Brazil’s Secretariat of Prizes and Bets (SPA) has announced that 71 companies have achieved approval for federal online gambling licenses. This development comes as the country prepares to introduce a regulated betting market. A total of 114 companies applied for a license, but only these 71 fulfilled the essential qualifications, including compliance with technical security protocols, payment processing standards, and anti-money laundering (AML) measures. The granted licenses are valid for a duration of five years, permitting license holders to operate three different betting brands, often referred to as “skins,” under one license.
Simply meeting these standards isn’t sufficient, given Brazil has also established a $5.2 million entry fee for betting operators. Sixteen companies have already remitted a total of $81.3 million to the Ministry of Finance. Additionally, companies are required to set up a registered office within Brazil and maintain certified corporate accounts with the Bank of Brazil. Under the new regulation, these companies are restricted from offering bonuses or running advertisements. Any operator failing to adhere to these rules could face daily fines of R$50,000, equating to $8,671. Companies must also provide comprehensive reports outlining the implementation of the new measures within ten days after the legislation takes effect.
**Frequently Asked Questions**
**Is gambling legal in Brazil?**
Most forms of land-based gambling remain illegal in Brazil.
**What is the legal gambling age in Brazil?**
The legal age for gambling in Brazil is 18 years old.