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Licensed betting operators in Brazil are required to provide the Ministry of Finance with detailed information on bettors, financial transactions and activity on their platforms as part of the government’s supervision of the regulated market.
The requirements have come into focus following the Ministry’s suspension of 14 betting sites linked to six companies over breaches of the rules governing the regulated market.
The suspensions prevent the affected platforms from accepting new bets, while customers can continue to access the sites to withdraw available funds. The measures were first reported by Agência O Globo and have subsequently been reported by other Brazilian media.
The Ministry’s Sistema de Gestão de Apostas (SIGAP) is used by the Secretariat of Prizes and Betting (SPA) to monitor operators in the regulated market. Operators are required to provide information through the system as part of their ongoing regulatory obligations.
According to Brazilian media reports, failures to provide information required for government monitoring were among the issues behind the latest enforcement measures.
Metrópoles reported that the SPA’s action was linked in particular to failures involving the transmission of operational and registration information to the government’s monitoring system.
The reasons for the suspensions were not identical across all the affected operators. Folha de S.Paulo reported that the Ministry’s measures also involved failures to provide mandatory documentation and deficiencies relating to responsible gambling requirements.
Operators that fail to meet regulatory requirements can face precautionary measures, including suspension of their ability to accept new bets.
The enforcement action comes as the Ministry of Finance is also increasing transparency around the companies it has authorised to operate in Brazil.
Earlier this month, the Ministry published more than 2,000 pages of documents relating to the authorisation of 85 betting companies.
The first release comprised 582 documents covering 2,240 pages and included assessments of applicants’ corporate and legal eligibility, controlling shareholders, sources of funds and financial capacity, as well as reports supporting the final authorisation decisions.
The documents form part of a wider transparency initiative by the SPA, with the Ministry planning to release further material from completed licensing proceedings. The government has said more than 25,000 documents will eventually be made available, subject to the removal or anonymisation of personal and legally protected information.
