Brazil Gambling License
Getting a hold of a Brazil Gambling license may prove difficult as the practice has been illegal and without structured legislation since 1946. The Law forbids ‘games of chance’ as referred to in the Decree Law. This includes: casino gaming, betting on horse races outside an authorized area and sports betting.
Intent on preserving social morality, legislators forbid the practice of gambling in 1941. The main purpose of this was to promote the benefits earned from hard work and thus condemning activities where money could be easily earned and consequently, lost.
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Who manages E-Gambling in Brazil?
Currently the state owned Federal Savings Bank is in charge of Lotteries as well as permit grants for companies interested in selling lottery tickets. As it stands, Brazilian government stand for the prohibition of gambling however there have been proposed reforms such as Senate Bill No. 186/2014. The bill state that all online gambling will be exclusively operated by the Federal Savings Bank.
There is currently no licensing regime for online gambling in Brazil. However there is no specific regulation regarding social gaming.So long as the game is deemed legal by Brazilian standards, no issues or licensing requirements should arise.
Anti-Money Laundering Policy
In 1998, the Brazilian Government established the Council for Financial Activities Control within the Ministry of Finance under the law No. 9.613. The Council issues regulations directed at activities of industries that may give way to money laundering, such as gambling.
As stated before, online gambling as well as land-based gambling is prohibited.
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