The Brazilian Ministry of Finance has issued a comprehensive decree detailing the regulatory framework for the transfer of bettor data and resources between legal entities within the same economic group in the fixed-odds betting sector.
The new regulation takes immediate effect, providing a structured approach for lottery betting companies to manage data transmission and bettor resources. The ordinance outlines specific requirements and timelines for legal entities seeking to transfer bettor information and funds.
The main provisions of the ordinance include the necessity to obtain approval from the Ministry of Finance's Awards and Betting Secretariat. Legal entities must submit a formal application by December 13, 2024, accompanied by detailed documentation.
The transfer process depends on several conditions, including the explicit consent of individual bettors.
During this transition period, bettors will be granted specific rights. They may choose to withdraw funds or authorize the transfer of funds to a new transaction account.
It is noteworthy that unclaimed resources after June 30, 2025, will be allocated to public funds.
For those with active bets, options include cancellation and full refund or maintaining bets on the new platform.
The regulation sets a clear timetable for the transfer process. Transferring legal entities may maintain their platforms until December 31, 2024, but functionality will be limited. Bettors will be able to use both platforms until March 31, 2025, to ensure a smooth transition.
It is noteworthy that any unclaimed resources after June 30, 2025, will be redirected to the Student Aid Fund and the National Public Disaster, Protection, and Civil Defense Fund.
