Betfair, one of the largest betting houses in the world, made a payment of R$ 30 million to the Brazilian government last Friday (29), fulfilling another step in the process of becoming one of the first companies to receive a license to operate in the country according to the new regulation. Licenses for brands that meet the correct requirements are expected to be granted by the end of December.
Among the steps already completed by Betfair are the proof through documents presented to the Ministry of Finance about:
- Technical experience in the sector
- Proof of minimum social capital
- Implementation of robust security systems to prevent fraud, manipulation of results, and money laundering
- Compliance with LGPD - General Data Protection Law ensuring secure storage, protection, and consented use of sensitive data
- Availability of customer service and ombudsman channels, such as electronic and telephone support, as well as an ombudsman for communication with the government
- Disclosure of responsible gaming practices
- Guarantee of continuous and unrestricted access to systems for auditing and inspection by the Ministry of Finance, among others.
Kimberly Daly, General Director of Betfair International, stated: “This is a very important moment for Betfair. We are rigorously following each of the necessary requirements and, so far, we have met all as established for betting houses in obtaining the Brazilian license. It is also another unquestionable demonstration of our commitment to the responsible development of the online betting sector in Brazil”.
“We are proud and excited to take this further step in the journey that began six years ago, which will allow us to continue providing our Brazilian customers and sports enthusiasts with the best entertainment experience”, added the executive.
Betfair continues to offer its betting services on the Betfair Sports, Betfair Exchange, and Betfair Casino platforms, as authorized by Brazilian legislation. The company is also a founding member and actively participates within the Brazilian Institute of Responsible Gaming (IBJR), which helps to shape the development of robust and modern regulation aligned with global best practices.
One of the largest providers of online sports betting in the world, Betfair is the official sponsor of the Cruzeiro and Vasco da Gama teams. The company, founded in London in 2000, was a pioneer in offering peer-to-peer betting (Betfair Exchange) and manages a complete set of sports betting, entertainment events, and online gaming products for more than four million customers over 18 years old worldwide.
Thanks to its cutting-edge technology, the platform offers a wide catalog of products that allows betting with your own odds and odds offered by other users. Betfair is licensed to operate online betting and other games in 19 countries, including Spain, Italy, Malta, and Great Britain. Gamble responsibly.
Source: GMB
