Brazil Ministry of Finance publishes rules for sports betting

On October 27, the Brazilian Ministry of Finance published in the official gazette rules regulating the commercial activities of sports betting. The resolution came into force from the moment of publication. The document includes general rules for betting operators, players and bookmakers. It also regulates anti-money laundering and introduces the concept of responsible gaming.
 
As noted in the resolution, all operators interested in entering the market are required to declare their intentions within the next 30 days.
 
Betting companies should develop policies to prevent money laundering and other offences. Operators are prohibited from accepting payments that could lead to money laundering. They are required to carefully monitor and promptly report any suspicious transactions to the Conduct Authority (COAF).
 
In addition, bookmakers must set up ‘dedicated service centres’ to provide the necessary support to customers.
 
Sports betting advertisements must not contain misleading statements.
 
Players must be at least 18 years of age and be identified before placing bets.