Brazil Strengthens Gambling Controls, Bans Harmful Products
Date: 2024-09-10 Author: Leon Pierce Categories: EVENTS
In this direction, the Ministry of Finance of the state of Sao Paulo has paid special attention to games that promise unrealistic winnings, such as Fortune Tiger and Fortune Dragon, as well as other slots and card games.
New measures to limit aggressive games
The Ministry of Finance has published a decree regulating slots, card games and table games that are considered excessively aggressive or deceptive. The decree will come into force in January and will impose restrictions on such products.
As reported by Games Magazine Brazil, the purpose of the decree is to remove ambiguities about the legality of online slots by clearly defining the rules for these games.
In addition, the ministry accused some operators of offering players unrealistic odds of winning, forcing them to spend more money. One police report cites a case in which a Fortune Tiger player lost more than $35,000.
Dozens of sites blocked
As part of its strategy to protect players from excessive gambling, Brazilian authorities have blocked several sites offering such high-risk games.
Authorities have warned these sites to cease operations in the country or face large fines of up to R$2 billion. However, as of yesterday, some of them were still accessible.
Committed to a fair and safe gaming market
These actions are in line with Brazil’s overall strategy to create a regulated gambling market. The country is also working to legalize sports betting and has closed the application process for licenses. New companies can still apply, but will miss out on the opportunity to enter the market when it opens.
Brazil’s regulated betting market is expected to begin operating on January 1, 2025. Work is also underway to introduce regulations for online gaming. A strict regulatory system will prevent the emergence of harmful games and ensure responsible gaming measures are followed to prevent players from spending too much money.
Brazil is also set to tighten penalties for manipulation in sports, in an effort to create a fair and safe market.
Speaking of fraud, Darwin Henrique da Silva Filho, the owner of the bookmaker Esportes da Sorte, along with his wife Maria Eduarda Quinto Filizola, recently surrendered to the Pernambuco police. They are suspected of involvement in a money laundering scheme.
