Brazil Cracks Down on Betting Incentives with New Regulations

## Brazil Implements Stricter Betting Regulations, Eliminating Promotions and Incentives

Significant modifications are on the horizon for wagering in Brazil. Prepare to bid farewell to enticing promotions and complimentary wagers, as they are being phased out.

Indeed, the Brazilian government, particularly the Secretariat for Prizes and Sweepstakes (SPA), is taking decisive action to regulate the gambling sector. New regulations are being implemented that will entirely prohibit operators from providing any form of encouragement to engage in betting. This signifies the end of welcome bonuses, complimentary spins, and undoubtedly cashback rewards.

Furthermore, the SPA is enhancing oversight of payment procedures. They are establishing a strict 120-minute timeframe for operators to disburse winnings and mandating that all financial transactions, including deposits and withdrawals, be conducted electronically. Consequently, if you prefer using cash, checks, or even cryptocurrency, those options will no longer be available.

However, these alterations will not take effect immediately. The SPA is providing a grace period for adaptation, with the new regulations scheduled to be implemented in late October 2024.

The official launch date for sports wagering rules in Brazil remains uncertain. Everyone awaits the release of these detailed regulations – that’s when the countdown truly begins.

Despite the uncertainty, it’s been an eventful period for gambling in Brazil! Pragmatic Play partnered with PixBet, Fast Track collaborated with Aposta Ganha, Ecogra secured their Brazilian permit, and NeoGames inked an agreement with Caesars. The excitement is palpable!