Brazilian regulations for betting houses are advancing, with the official start of licensing processes that will allow the legal operation of these companies in the country. Oddsgate, always attentive to changes in the rules, remains alongside its partners, especially those who are already positioned at the forefront of this new context.
Óscar Madureira, chief legal office (CLO) of Oddsgate, reinforces this stance and commitment of the company that operates in the development and commercialization of software for online casino and sports betting platforms:
“We are very excited to announce that Oddsgate very positively welcomes the new regulations in the sector in Brazil. We are prepared to work closely with regulatory authorities, local operators, and other stakeholders to ensure that our platform remains in compliance with all legal and regulatory requirements, while offering excellent service to our customers”.
Rigorously dealing with all regulatory requirements, the company aims to lead by example, offering continuous support and positioning itself as a safe harbor for its partners navigating the complex paths of regulation, ensuring that all steps are taken within legality.
With a stance that values integrity, data protection, and updated certifications, Oddsgate is proud to encourage and congratulate those at the forefront of Brazilian regulation, especially clients and partners.
The team recently celebrated obtaining a new GLI-33 certification and now celebrates the growing list of betting houses that have already started the regulation process in Brazil, emphasizing the importance of other companies following this same path.
Madureira adds, “We believe that the regulatory movement in Brazil represents a unique opportunity to strengthen the market, providing a safe and fair experience for all users”.
Since December 2023, when Law 14.790/23 was sanctioned in Brazil, some iGaming and sports betting companies began to move to obtain the necessary permissions to operate in the country.
However, this August, with the deadline for license application closing, the candidate companies to operate legally came to light - under evaluation of meeting the established criteria.
The first permissions are expected by January 2025, as part of the government's efforts to regulate the sector, ensuring transparency and security under the new norms of the Ministry of Finance.
The benefit of this regularization is for everyone, as Óscar Madureira points out: “We are confident that the regulation will bring not only significant benefits to the industry but also contribute to creating a more transparent and safe environment for Brazilian consumers. Additionally, this regulatory evolution will allow companies like ours to invest with even more confidence in Brazil, creating jobs and promoting economic growth”.
As in any process of licensing and certification, Brazilian legislation imposes strict criteria. Betting houses must meet requirements for legal qualification, fiscal and labor regularity, probity, economic-financial and technical qualification, in addition to paying a fee of R$ 30 million, valid for five years.
Oddsgate raises the flag of opportunities, as the CLO states: “We are eager to explore the new opportunities that the Brazilian market presents and continue to contribute to the development of a responsible and sustainable online betting sector in the country”.
Oddsgate is a leader in the iGaming industry, offering a complete SaaS platform.
It guarantees efficient integration and development from scratch in up to 30 days. Committed to quality, it has a customer-oriented philosophy, with global operations and the best market solutions in sportsbook, casino, CRM, payment systems, and affiliate systems.
Source: GMB
