Regulated betting market separates the wheat from the chaff, lawyer tells CNN Money.

Bets I 01.01.25

By: Magno José

Regulated betting market separates the wheat from the chaff, lawyer tells CNN Money. — In an interview with CNN Money, Bernardo Freire, partner at the Betlaw law firm and legal consultant for the National Association of Games and Lotteries (ANJL), highlights that the new rules provide greater consumer protection, combat illegal activities, and require licensing for operators in the Brazilian market.

Starting this Wednesday (1st), the regulated fixed-odds betting market, the so-called bets, comes into effect. Bernardo Freire, partner at the Betlaw office, who is legal consultant for the National Association of Games and Lotteries (ANJL), highlights to CNN Money the importance of this measure for the country.

The new legislation brings significant changes, mainly aimed at protecting consumers and combating illegal activities. "The regulation separates the wheat from the chaff," explains Freire, emphasizing that legalized companies will be monitored by the Prizes and Betting Secretariat of the Ministry of Finance.

Protection for gamblers and combating money laundering.

Among the main changes, the most notable is the ban on the use of credit cards for betting, a measure aimed at controlling bettors' debt.

Furthermore, companies will be responsible for monitoring excessive gambling behavior and implementing protection mechanisms, such as facial recognition to prevent the participation of minors.

To operate in Brazil, companies must obtain a license, paying a grant of R$ 30 million and providing an additional guarantee of R$ 5 million. This process has already attracted dozens of companies, demonstrating interest in the Brazilian market, Freire emphasized.

Impact on Brazilian sport

According to Freire, the regulation will also positively affect sports entities and leagues. The lawyer stated that betting companies are now fundamental to the development of sports in the country, citing sponsorships in the Brazilian Championship and in various clubs.

"It's a situation that is very interconnected," Freire assessed, highlighting the importance of these partnerships for the survival not only of football, but also of other sports such as basketball and volleyball.

Furthermore, the regulation will allow for better oversight and monitoring of potential manipulation of results, with companies having a responsibility to report suspicious situations.