The South American nation of Brazil is implementing stricter regulations on the advertising of wagering activities. Beginning in the latter part of October 2024, gaming operators will be prohibited from attracting new players with incentives like bonus offers or complimentary wagers. This measure, enacted by the Secretariat for Evaluation, Planning, Energy and Lottery (SECAP), seeks to establish a more equitable competitive landscape and encourage responsible gaming practices.
The updated guidelines also stipulate expedited disbursement of winnings, mandating that all payouts be electronically processed within 120 minutes of an event’s conclusion. Conventional disbursement methods such as paper checks and physical currency are no longer permitted, as are digital currencies. This more stringent regulatory framework underscores Brazil’s dedication to openness and safeguarding its burgeoning gaming sector.
The countdown won’t commence on that specific matter until Brazil unveils the precise rules and guidelines governing sports wagering.
This past week has been a whirlwind of activity for the gaming sector in Brazil: Pragmatic Play established a collaboration with PixBet, Fast Track teamed up with Aposta Ganha, Ecogra received authorization to conduct business in Brazil, and NeoGames and Caesars solidified an agreement there as well.
admin