Brazil Cracks Down on Gambling Ads and Payment Methods

South America’s largest nation is implementing stricter regulations on wagering advertisements. Upcoming legislation will prohibit gaming firms from providing incentives and complimentary wagers. This action, anticipated to be enacted by the conclusion of October 2024, seeks to establish a more regulated gaming landscape.

The Brazilian governmental department responsible for this oversight, the Secretariat for Prizes and Awards (SPA), aims to guarantee equitable conditions for all participants. They are also strengthening payment protocols – all payouts must be disbursed within a two-hour timeframe following the event’s conclusion, exclusively via digital transfers. This signifies the elimination of physical currency, paper checks, or cryptocurrency settlements for gambling activities.

The countdown to adherence will commence upon the issuance of these particular regulatory orders.

The Brazilian gaming sector has experienced a bustling period, witnessing collaborations forged between prominent entities such as Pragmatic Play and PixBet, as well as Fast Track and Aposta Ganha. Furthermore, Ecogra obtained its Brazilian accreditation, and an agreement was reached between NeoGames and Caesars. Momentum is undeniably building!