ARTICLE · 25 APRIL 2024

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Government Establishes Rules For Payment Methods In Fixed Odds Betting

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The Prizes and Bets Secretariat of the Ministry of Finance published this Thursday (18) Ordinance MF-SPA/MF No. 615, which regulates Law 14,790/2023 by establishing general rules to be observed...

BrazilTechnology

Melissa Kanô

Roberto Lambauer

Augusto Simões

The Prizes and Bets Secretariat of the Ministry of Finance published this Thursday (18) Ordinance MF-SPA/MF No. 615, which regulates Law 14,790/2023 by establishing general rules to be observed in payment transactions carried out by authorized agents to operate the fixed-quota lottery modality in the national territory.

Under the terms of the Law, fintechs that are positioned to manage financial transactions in this sector, and that are duly authorized to operate by the Central Bank of Brazil ("BCB") as financial and payment institutions, can carry out payment processing operations only to sports betting companies that have authorization to operate fixed-quota bets provided for in the Law, as regulated by the Ordinance.

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Government Establishes Rules For Payment Methods In Fixed Odds Betting

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