Brazil establishes GTI-Bets to regulate fixed-odds betting industry

The Brazilian Ministry of Finance, through its Special Secretariat of the Federal Revenue Service (RFB) and the Secretariat of Prizes and Betting (SPA), has announced the creation of an interdepartmental working group known as GTI-Bets. This initiative was formalized under Joint Ordinance RFB/SPA/MF No. 3, dated January 6, 2025, and published in the Diário Oficial da União on January 8, 2025.

The GTI-Bets group aims to monitor the fixed-odds betting sector, ensuring the fiscal compliance of authorized entities and identifying unauthorized operators potentially involved in illegal activities, including money laundering. The group will also develop a compliance program to address past tax obligations of authorized companies and propose collaborative enforcement actions to tackle regulatory non-compliance.

The working group will consist of three members, with representatives from the RFB’s Subsecretariat for Oversight (Sufis), the General Coordination of Research and Investigation (Copei), and the SPA. The Sufis representative will coordinate the group’s efforts.

GTI-Bets will have a six-month term, which may be extended at the discretion of the secretaries. It is required to submit bi-monthly progress reports and a final report outlining its findings and proposals.

This initiative underscores Brazil’s commitment to fostering transparency and compliance in its growing betting industry while ensuring a collaborative approach between regulatory bodies. The ordinance also allows GTI-Bets to request information from any unit of the Ministry of Finance within its legal scope, reinforcing the importance of inter-agency cooperation.

The ordinance takes effect immediately following its publication.