266 bets have already requested authorization to operate; government wants “high slats” in the analysis

At least 266 companies have already requested authorization from the federal government to operate in the online betting market, calculates Régis Dudena, secretary of prizes and betting at the Ministry of Finance, who promises rigor in the analysis for the companies’ authorization.

He spoke about the subject during a panel at Compliance Week 2024, an online event held by XP. The federal government representative participated in the debate on the impact of regulation on the betting market for financial institutions.

By December, the Ministry of Finance must complete the definitive analysis process of requests received from companies interested in operating in the sector here in Brazil. And the number of requests surprised Dudena.

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“We are still in the analysis process and, at least until the last time I looked, 266 requests for authorization have already reached us, which is quite surprising”, he reveals. “We thought we would receive a lot of requests, but this number is actually surprising”, reinforces the secretary.

Given the number and complexity of the topic, Dudena promises maximum rigor in the analysis of companies that will be authorized to operate online betting in Brazil.

“All of them will be scrutinized in detail, all documents analyzed and only those who manage to meet all the initial requirements, and subsequently meet the final requirements, will provide the service”, he promises.

Among the points that will be analyzed, he mentions financial issues such as grant payment, creation of an escrow account and final documents also related to the origin of capital.

In Dudena’s assessment, this filter of the authorization process aims to generate a sector in which service providers are much more reliable and easily recognizable.

Currently, a Parliamentary Commission of Inquiry (CPI) is investigating allegations of manipulation of games and sports betting. Next Wednesday (30), the group’s audience should hear from player Lucas Paquetá, accused of involvement in an alleged betting scheme in English football.

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“That’s why the stakes have to be high”, points out Dudena, who refers to the rigor in the analysis of companies that wish to operate in the country. “The simple fact

Those requirements are typical requirements of the private sector acting as assistants to the State acting in the provision of a public service. So, the diligence that has to be done is to recognize that this private party that is providing this service to Brazilian citizens is doing so in the name of the State, on behalf of the State.

This way, adds the secretary of the Ministry of Finance, it is possible to identify who the partners are and the possible benefits of the business.