Tag Archives: Sports Betting
Brazil’s Ministry of Finance announces new rules for payment methods and payments
The Ministry of Finance’s Secretariat of Prizes and Betting (SPA) published Regulatory Ordinance SPA/MF No. 615 on April 18, 2024, outlining the general rules to be followed in payment transactions carried out by fixed-odds betting operators. The ordinance is part of a set of regulations aimed at regulating the activities of fixed-odds betting operators in…
Ministry of Finance calls for coordination over state sports betting regulations in Brazil
During the 192nd Ordinary Meeting of the National Council of Fiscal Policy (Confaz), held in Fortaleza, Ceará, Dario Durigan, Executive Secretary of the Ministry of Finance, proposed the creation of a new Working Group within the council to discuss state regulations for sports betting. According to a Confaz press release: “Coordination among the federal entities…
Brazil – Loterj to grant more licenses amidst growing controversy
The State Lottery of Rio de Janeiro (Loterj) has opened a new deadline for betting companies to participate in a new bidding process to obtain a license in the state of Rio de Janeiro. Sports betting houses that wish to operate regularly in the territory of the state have 30 days, starting from April 12,…
Senate match fixing inquiry begins in Brazil
The Parliamentary Inquiry Commission (CPI) on Sports Betting (CPiae) has been established. Senator Romário was chosen as the rapporteur. The presidency and vice-presidency were taken by Senators Jorge Kajuru and Eduardo Girão respectively. At the first meeting, the members made it clear that the objective of the commission is to “get to the bottom of…
Brazil – Rio de Janeiro lottery dispute could end up in Supreme Court
On Friday (5th April) the Rio de Janeiro Lottery (Loterj) decided not to respond to a request from the Ministry of Finance regarding the issue of offering sports betting outside of state borders. According to local press the issue could as a result end up in Brazil’s Supreme Court (STF). Loterj has authorized four online betting…
New York’s online sports betting revenues up 21 per cent in 2023
New York’s online sports betting revenue reached $1.76bn in 2023, up 20.6 per cent, with bettors in the Empire State placing $19.64bn of online bets, up 19.8 per cent from last year’s figure. The market was once again led by FanDuel and DraftKings. FanDuel processed $8.10bn in online bets producing revenue of $845.8m whilst DraftKings…
Victorian punters to be better informed under clearer, fairer player activity statements
Victorian betting account holders will now see their true spending and losses under new standards that specify how this information must be displayed on player activity statements. These changes come after the Victorian Gambling and Casino Control Commission (VGCCC) analysed sample activity statements across a number of providers and found inconsistencies in how information was…
Lawmakers could make decision on Lula’s vetoes in April
The President of the Senate, Rodrigo Pacheco, stated that Congress could be able to convene in a joint session to decide on the 28 presidential vetoes pending analysis in April. The list includes President Lula’s vetoes to Law 14,790. The law was sanctioned and published in the Official Gazette of the Union on December 30,…
Controversy as Loterj authorises nationwide online betting platforms
The Rio de Janeiro State Lottery – (Loterj) has authorized four online betting platforms to operate across Brazil, sparking controversy within the Ministry of Finance, which according to newspaper “Folha de S.Paulo” is reportedly considering legal action against the decision. Crucially Rio de Janeiro has not imposed any geographical restrictions on these licensed sites, enabling…
