Brazilian operators mandated to incorporate .Bet in URLs, SPA confirms

Shirley Pulis Xerxen 2 months ago
Brazilian operators mandated to incorporate .Bet in URLs, SPA confirms

The Secretariat of Prizes and Betting (SPA) operating under Brazil’s Ministry of Finance has announced a directive requiring licensed operators to include .bet in their domain names, a decision aimed at distinguishing legal gambling platforms from unlicensed offshore competitors.

Regulatory measure to ensure legitimacy

The decision to implement this requirement followed deliberations within the secretariat regarding whether operators should add .bet or .bets to their URLs. By mandating this change, the SPA intends to enhance transparency for players, ensuring they engage in gambling activities with authorized operators. Moreover, this directive will improve regulatory oversight, enabling authorities to promptly identify irregularities and enforce necessary actions.

Changes coming to Brazil’s betting scene

This URL mandate forms part of a broader spectrum of measures proposed by the Ministry of Finance to revamp Brazil’s betting framework. These measures include stringent payment regulations and the prohibition of betting incentives. Notably, restrictions have been placed on payment methods, ruling out cash, credit cards, bank transfers, and cryptocurrencies for bettig purposes. Instead, bettors are required to fund their accounts exclusively through electronic transfers like Pix, TED, debit cards, or prepaid cards.

Furthermore, recent guidelines have barred gambling operators from offering any form of bonuses or advantages, even for promotional purposes, in response to integrity concerns. Additionally, a prior regulation mandated operators to engage with integrity monitoring bodies such as the International Betting Integrity Authority (IBIA), leading to collaborations with entities like Yolo Group, KTO, Oddin, and Galera.bet.

The Secretariat of Prizes and Betting (SPA) was established under the Ministry of Finance on January 31, 2024. It will comprise three sub-secretariats tasked with various functions including regulating the betting market, overseeing issues like corruption and money laundering, evaluating operator authorization requests, monitoring tax collection, and handling administrative sanctions. Additionally, the SPA has appointed Régis Anderson Dudena as its first President, as confirmed by the Ministry of Finance in Brazil.

Upcoming event: The SiGMA Asia Summit will be held in Manila, from the 2nd till the 5th of June.

Share it :

Recommended for you
Shirley Pulis Xerxen
21 hours ago
Christine Denosta
21 hours ago
Christine Denosta
22 hours ago
Garance Limouzy
23 hours ago