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Brazil: Government Prohibits Operation of BETs that have not submitted authorization requests
Government Prohibits Operation of BETs that have not submitted authorization requests.
Ordinance SPA/MF 1,475/2024, in effect since September 17, 2024, has shortened the operating period for active BETs that have not yet requested authorization from SPA. Starting October 1, 2024, only those BETs that are currently operating and have submitted their authorization request to the SPA by the publication date of the Ordinance will be allowed to operate during the adjustment period, which ends on December 31, 2024.
Conversely, BETs that have not submitted an authorization request by that date shall be prohibited from operating in Brazil starting October 1, 2024. Bettors can withdraw their deposited amounts until October 10, 2024, after which betting sites and applications without a filed authorization request in SPA will be blocked.
For more information on this prepared by Partner Ricardo Barretto Ferreira and Attorney Ingrid Santos from the TMT team, you can access the full article:
Government prohibits operation of BETs that have not submitted authorization requests
See more articles from our Brazilian member firm Azevedo Sette.
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