Betting Regulation: see how to ensure compliance in operations
Posted: Sun Dec 22, 2024 4:27 am
The sports betting and online gaming market in Brazil continues to expand, generating billions of reais annually. According to a survey by the Brazilian Association of Financial and Capital Market Entities (ANBIMA), 14% of the population already uses betting apps. In addition, the regulations that came into effect in October 2024 brought new requirements that directly impact the operations of these companies.
By regulating betting , the government seeks to increase transparency, prevent irregularities and ensure security for both companies and consumers. In this context, complying with regulations has become a challenge and, at the same time, an opportunity to stand out in the market.
However, how can companies adapt efficiently? In this article, we will explore the changes brought about by the regulation, the importance of compliance, and the solutions that BigDataCorp offers to ensure safe and legal operations. Keep reading to learn more!
The growth of betting in Brazil and regulatory challenges
The online betting market has been gaining more and more followers in Brazil. Currently, around 22 million Brazilians have accounts on betting websites, 40% of these people see betting as a way to get quick money in times of need, while 22% consider it an opportunity for financial investment.
This growth in the movement of large financial russia phone number volumes increases the risk of practices such as money laundering and fraud , while issues related to transparency and consumer protection remain at the center of the debate. To address these challenges, the regulation of betting, introduced in 2024, seeks to structure and professionalize the sector, bringing more security to companies and bettors.
Betting regulation: what has changed with the new rules
The regulation of betting has brought a series of important changes to the betting sector in Brazil. Published by the Secretariat of Prizes and Bets of the Ministry of Finance, it establishes clear guidelines to prevent fraud, protect consumers and ensure transparency in operations.
Check out the main highlights:
Ordinance 143/2024 : requires companies to adopt money laundering prevention policies, including risk assessment and reporting to COAF;
Ordinance 207/2024 : defines technical criteria for the approval of games, establishing betting limits and requiring greater transparency regarding accumulated losses;
Ordinance 231/2024 : regulates marketing and communication practices, promoting Responsible Gaming and establishing rights and duties for players and companies;
Ordinance 233/2024 : requires companies to be headquartered in Brazil to sponsor sports teams and prohibits advertisements that present gambling as a form of social advancement;
Ordinance 722/2024 : introduces the mandatory use of facial recognition in user registration to prevent irregularities and the participation of minors.
These regulations represent an important step towards consolidating the betting market in Brazil, but they also require companies to adapt their processes quickly to meet the new requirements.
Importance of compliance actions for the betting sector
Regulations require companies to implement strict controls to ensure safe operations that are in line with established standards. Key requirements include practices such as:
Suspicious activity monitoring : identify irregular financial movements to prevent money laundering;
Identity validation : ensuring that users are legitimate and able to participate on the platform;
Safe Betting : Restrict betting by people with conflicts of interest, such as referees or sports officials.
These measures reinforce the importance of integrating advanced tools that go beyond the basics to ensure compliance and security in the betting industry. This is where BigDataCorp’s solutions make a difference.
Discover the datasets that are transforming the operations of companies in this market!
Discover BigDataCorp's datasets for the betting sector
In line with its commitment to democratizing access to information, BigDataCorp is bringing to market two new products developed specifically to meet the demands of the betting industry under the new regulations. These solutions provide detailed and reliable data to ensure safer, more efficient operations in compliance with current legislation.
Betting House Compliance Dataset
This dataset brings together, in a single set, all the regulatory information necessary for companies to comply with the new legislation. It offers:
Corporate relations with betting houses : identifies whether the CPF consulted has corporate ties with registered betting houses;
Links with the Ministry of Finance : shows whether the CPF is associated with the Ministry of Finance or performs functions linked to this body;
Detailed indicators : flags the reasons why the CPF has connections with regulated entities, facilitating risk assessment and regulatory compliance.
Sports Exposure Dataset
The Sports Exposure dataset was developed to minimize the risk of improper betting and suspicious transactions. It allows mapping individuals and entities directly linked to the sports scene, such as athletes, managers, referees and club owners. Its main features include:
Involvement identification : identifies direct or indirect connections of people with sports institutions, such as leagues, federations or clubs;
Detailed professional history : provides information on positions held, competitions participated in and clubs played for, creating a complete overview of the individual in the sporting field;
Data on sports entities : includes details on the structure and relevance of sports institutions linked to individuals, assisting in risk analysis and strategic decisions.
Documentscopy and Facematch solutions
To meet regulatory requirements and increase operational security, BigDataCorp presents its digital document scanning and Facematch solutions. These technologies use artificial intelligence to validate information accurately and efficiently:
Digital document scanning : the tool scans and extracts data from document images, simplifying registration flows and increasing security in validation processes.
Facematch : using facial biometrics, this solution compares images and guarantees accurate results, even with differences such as the use of accessories, aesthetic changes or age variations.
With all these features, these datasets, such as the strategic use of data, can strengthen betting market operations, ensuring greater security and transparency. But these are just a few examples of what BigDataCorp can offer. Want to know how our platform can transform your operation? Check it out below!
Count on the power of data to go further
Ensure the security and regulatory compliance of your operation with leading solutions from BigDataCorp, the largest datatech in Latin America. Our platform offers the best resources to meet the demands of the online betting and gaming market, with unparalleled efficiency and reliability.
Advantages of our solutions:
Significant savings : reduce costs related to regulatory compliance by up to 90%;
Real-time speed : get answers in less than 5 seconds, maintaining a fluid user experience;
Full Automation : Implement a 100% automatic KYC process, eliminating the need for manual reviews.
With real-time processing and constantly updated information, our solutions minimize the impact on customers, ensuring maximum security and operational efficiency. In addition, our platform is designed to provide maximum flexibility: you only pay for what you use and you also have 500 free consultations per month.
By regulating betting , the government seeks to increase transparency, prevent irregularities and ensure security for both companies and consumers. In this context, complying with regulations has become a challenge and, at the same time, an opportunity to stand out in the market.
However, how can companies adapt efficiently? In this article, we will explore the changes brought about by the regulation, the importance of compliance, and the solutions that BigDataCorp offers to ensure safe and legal operations. Keep reading to learn more!
The growth of betting in Brazil and regulatory challenges
The online betting market has been gaining more and more followers in Brazil. Currently, around 22 million Brazilians have accounts on betting websites, 40% of these people see betting as a way to get quick money in times of need, while 22% consider it an opportunity for financial investment.
This growth in the movement of large financial russia phone number volumes increases the risk of practices such as money laundering and fraud , while issues related to transparency and consumer protection remain at the center of the debate. To address these challenges, the regulation of betting, introduced in 2024, seeks to structure and professionalize the sector, bringing more security to companies and bettors.
Betting regulation: what has changed with the new rules
The regulation of betting has brought a series of important changes to the betting sector in Brazil. Published by the Secretariat of Prizes and Bets of the Ministry of Finance, it establishes clear guidelines to prevent fraud, protect consumers and ensure transparency in operations.
Check out the main highlights:
Ordinance 143/2024 : requires companies to adopt money laundering prevention policies, including risk assessment and reporting to COAF;
Ordinance 207/2024 : defines technical criteria for the approval of games, establishing betting limits and requiring greater transparency regarding accumulated losses;
Ordinance 231/2024 : regulates marketing and communication practices, promoting Responsible Gaming and establishing rights and duties for players and companies;
Ordinance 233/2024 : requires companies to be headquartered in Brazil to sponsor sports teams and prohibits advertisements that present gambling as a form of social advancement;
Ordinance 722/2024 : introduces the mandatory use of facial recognition in user registration to prevent irregularities and the participation of minors.
These regulations represent an important step towards consolidating the betting market in Brazil, but they also require companies to adapt their processes quickly to meet the new requirements.
Importance of compliance actions for the betting sector
Regulations require companies to implement strict controls to ensure safe operations that are in line with established standards. Key requirements include practices such as:
Suspicious activity monitoring : identify irregular financial movements to prevent money laundering;
Identity validation : ensuring that users are legitimate and able to participate on the platform;
Safe Betting : Restrict betting by people with conflicts of interest, such as referees or sports officials.
These measures reinforce the importance of integrating advanced tools that go beyond the basics to ensure compliance and security in the betting industry. This is where BigDataCorp’s solutions make a difference.
Discover the datasets that are transforming the operations of companies in this market!
Discover BigDataCorp's datasets for the betting sector
In line with its commitment to democratizing access to information, BigDataCorp is bringing to market two new products developed specifically to meet the demands of the betting industry under the new regulations. These solutions provide detailed and reliable data to ensure safer, more efficient operations in compliance with current legislation.
Betting House Compliance Dataset
This dataset brings together, in a single set, all the regulatory information necessary for companies to comply with the new legislation. It offers:
Corporate relations with betting houses : identifies whether the CPF consulted has corporate ties with registered betting houses;
Links with the Ministry of Finance : shows whether the CPF is associated with the Ministry of Finance or performs functions linked to this body;
Detailed indicators : flags the reasons why the CPF has connections with regulated entities, facilitating risk assessment and regulatory compliance.
Sports Exposure Dataset
The Sports Exposure dataset was developed to minimize the risk of improper betting and suspicious transactions. It allows mapping individuals and entities directly linked to the sports scene, such as athletes, managers, referees and club owners. Its main features include:
Involvement identification : identifies direct or indirect connections of people with sports institutions, such as leagues, federations or clubs;
Detailed professional history : provides information on positions held, competitions participated in and clubs played for, creating a complete overview of the individual in the sporting field;
Data on sports entities : includes details on the structure and relevance of sports institutions linked to individuals, assisting in risk analysis and strategic decisions.
Documentscopy and Facematch solutions
To meet regulatory requirements and increase operational security, BigDataCorp presents its digital document scanning and Facematch solutions. These technologies use artificial intelligence to validate information accurately and efficiently:
Digital document scanning : the tool scans and extracts data from document images, simplifying registration flows and increasing security in validation processes.
Facematch : using facial biometrics, this solution compares images and guarantees accurate results, even with differences such as the use of accessories, aesthetic changes or age variations.
With all these features, these datasets, such as the strategic use of data, can strengthen betting market operations, ensuring greater security and transparency. But these are just a few examples of what BigDataCorp can offer. Want to know how our platform can transform your operation? Check it out below!
Count on the power of data to go further
Ensure the security and regulatory compliance of your operation with leading solutions from BigDataCorp, the largest datatech in Latin America. Our platform offers the best resources to meet the demands of the online betting and gaming market, with unparalleled efficiency and reliability.
Advantages of our solutions:
Significant savings : reduce costs related to regulatory compliance by up to 90%;
Real-time speed : get answers in less than 5 seconds, maintaining a fluid user experience;
Full Automation : Implement a 100% automatic KYC process, eliminating the need for manual reviews.
With real-time processing and constantly updated information, our solutions minimize the impact on customers, ensuring maximum security and operational efficiency. In addition, our platform is designed to provide maximum flexibility: you only pay for what you use and you also have 500 free consultations per month.