Oddsgate's Chief Legal Officer (CLO) Óscar Madureira emphasized the stance and commitment of the company, which is engaged in the development and commercialization of casino and online sports betting platform software: "We are very pleased to announce that Oddsgate is very proactive in welcoming the new regulations in the Brazilian industry. We are ready to work closely with regulatory bodies, local operators, and other relevant parties to ensure that our platform continues to comply with all legal and regulatory requirements, while providing excellent customer service."
By strictly meeting all regulatory requirements, the company aims to lead by example, provide ongoing support, and position itself as a safe harbor for partners, navigating the complex regulatory paths while ensuring all steps are within legal bounds.
In the spirit of valuing integrity, data protection, and updated certifications, Oddsgate is proud to encourage and congratulate those who stand at the forefront of Brazilian regulation, especially customers and partners.
The team recently obtained a new certification, GLI-33, and is now celebrating that more betting companies have started the Brazilian regulatory process. Madureira emphasized the importance of other companies following the same path and added: "We believe that the Brazilian regulatory movement represents a unique opportunity to strengthen the market and provide a safe, fair experience for all users."
Since the enactment of Law No. 14,790/23 in December 2023, some iGaming and sports betting companies have been striving to obtain the necessary licenses to operate in the country. However, in August, with the end of the application period, some companies hopeful of legal operation emerged after assessing whether they met the established standards.
The first batch of licenses will be issued in January 2025, as part of the government's efforts to regulate the industry according to new Treasury Department regulations and ensure transparency and safety.
Madureira added: "We believe that this regulation will bring great benefits to the industry and create a more transparent and safe environment for Brazilian consumers. Additionally, this regulatory change will allow companies like ours to invest more confidently in Brazil, creating new jobs and promoting economic growth."
Like any licensing and certification process, Brazilian legislation sets strict standards. Betting companies must meet legal qualifications, tax and labor regulations, applicability, economic financial and technical qualifications, and pay a fee of 30 million Brazilian reais, valid for five years.
Oddsgate showcases endless possibilities. The CLO stated: "We look forward to exploring the new opportunities that the Brazilian market offers and continue to contribute to the responsible and sustainable development of the online betting industry in the country."
