Legal & compliance – Page 4

January 28, 2025

iGB@ICE: Rei do Pitaco CEO Kiko Augusto on the pivot from fantasy to sports betting

Kiko Augusto, CEO of Rei do Pitaco, shares insights with iGB@ICE on the company’s journey from a daily fantasy sports (DFS) platform to becoming one of the 14 fully-licensed sports betting operators in Brazil.

Drawing inspiration from the examples of DFS-turned-sports betting giants DraftKings and FanDuel in the US, Rei do Pitaco has built a tech-driven product tailored to Brazilian users.

With a strong user base migrated from fantasy sports, Rei do Pitaco is aiming to utilise its DFS origins to deliver an entertaining Brazilian sports betting experience.

“Back when we started the company in 2019, there was no daily fantasy for cash prizes as there were in the US,” Augusto explains to host Katie Goldfinch.

“We followed the playbook of DraftKings and FanDuel. “We’re going to acquire a lot of customers that play fantasy sports for cash prizes and now we’re in the regulated market with a big user base of customers that like sports.”

January 24, 2025

Esportes da Sorte granted full authorisation to operate in Brazil

Esportes da Sorte has been granted authorisation to operate fixed-odds betting in Brazil after a Federal Court injunction.

On Thursday (22 January), the Secretariat of Prizes and Bets (SPA) published SPA/MF Ordinance No 136 in the Official Gazette of the Union, allowing Esportes Gaming Brazil and its Esportes da Sorte and Onabet brands to operate throughout Brazil.

Esportes da Sorte’s inclusion in the federal regulator’s list of authorised companies follows the Federal Court of the Federal District granting an injunction in January to allow it to operate nationally, despite only holding a state lottery licence with Loterj.

In response, Esportes da Sorte said the ruling confirmed the company’s compliance with Brazil’s gambling regulations including paying its licence fee to operate in the regulated market.

“The decision confirms that the company, from the beginning, complied with all legal and regulatory procedures established by the legislation and its respective ordinances,” Espor..

January 20, 2025

Weekend Report: Sportsbet sued in Australia, FanDuel live in Puerto Rico

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Sportsbet faces legal action in Australia, FanDuel launches in Puerto Rico and BetMGM secures gameshow rights.

Australian players launch class-action against Sportsbet

Up first, a group of Sportsbet customers in Australia have launched a class-action lawsuit against the operator, seeking to recover millions of dollars in losses.

Players are demanding Sportsbet repay the money they say was lost through “illegal” live betting, the Australian Associated Press reports. Digital in-play betting on sports is prohibited in Australia.

The suit said Sportsbet should refund gamblers who have lost money using Sportsbet’s ‘Fast Code’ service in the past six years. Fast Code allows players to bet on live sports by making a selection online and calling Sportsbet to place the wager.

Principal lawyer Elizabeth O’Shea is working with the group on the case. She said: “Be..

January 14, 2025

Esportes da Sorte avoids Loterj national betting ban with Federal Court injunction

Esportes da Sorte has obtained an injunction from the Federal Court of the Federal District that will allow it to operate in the licensed Brazil betting market, despite it only holding a Lottery state betting licence.

The Federal Court’s decision, taken on Monday (13 January), enables Esportes da Sorte Group to launch its Esportes da Sorte and OnaBet brands nationally in Brazil, even though it has not been granted a federal licence or provisional licence to operate in the legal online betting market.

On 3 January Federal Supreme Court minister André Mendonça passed a preliminary ruling to ban Rio de Janeiro State Lottery (Loterj) licensees from providing nationwide gambling activities.

Esportes da Sorte gained Loterj authorisation back in August 2024 after its owner, Esportes Gaming Brazil, became the controlling shareholder of Loterj-licensed platform owner ST Soft.

However, the new Federal Court ruling guarantees Esportes da Sorte will be granted special authorisation to operat..

January 14, 2025

First in line: Brazil licence holders KTO and Stake on licensing challenges and first-mover advantages

Among the first to gain access to the legal online betting market in Brazil, KTO and Stake sat down with iGB to uncover the licensing process and how their early entry will bolster credibility among consumers.

After years of delays, Brazil finally launched its legal betting sector on 1 January, with operators looking to tap into what is expected to become a top-three market globally. For companies who have already secured licensed approval, the first-mover advantage has provided them with an exciting opportunity to be trailblazers.

The legal betting market in Brazil launched with 14 companies initially receiving full licences, as well as 52 operators that were granted provisional authorisation.

Provisional licences were granted to companies who are facing setbacks with their applications, such as certification delays. The extensive requirements relating to certification, as well as the huge number of applications submitted to the Secretariat of Prizes and Bets (SPA), have led to ..

January 10, 2025

2025 predictions: Brazil to remain fluid, adopting novel betting types, sponsorships may be reviewed

How will the gambling sector evolve in 2025? We asked the industry to consider how key trends in 2024 will progress into this year

Ushering in 2025, the sector has hit the ground running in preparation for ICE Barcelona in a couple of weeks. Across the pond a couple of US states have kicked off their legislative sessions this year with bills supporting online gaming launches. But the holiday period provided enough downtime to reflect on ways the gaming industry evolved in 2024 and then consider what will likely dominate the headlines and earnings calls in the year to come.

Brazil’s legal online betting launch captured the most eyes in 2024’s news flow, and how the licensed market will navigate its infancy stages will pique the sector’s interest in coming months. Last summer, 113 operators applied for early-stage licences to enter the market, hoping to be among the first to launch on 1 January.

Brazil’s SPA then awarded 66 approvals at the turn of the year, including 14 full and 52..

January 8, 2025

Brazil Supreme Court rejects Loterj’s latest appeal in ongoing spat with federal government

Supreme Federal Court (STF) minister André Mendonça has rejected the Rio de Janeiro State Lottery’s (Loterj) appeal against the ban on state-licensed brands operating throughout Brazil.

On 2 January, Mendonça passed a preliminary decision to ban Loterj licensees from operating nationally across Brazil. The request was initially filed by the attorney general’s office (AGU) back in October, requesting the court suspended certain 2023 provisions that gave Loterj powers to regulate outside of Rio (Accreditation Notice 01/2023).

As a result of the court’s ruling, Loterj licensees were banned from accepting bets beyond Rio de Janeiro state borders and also mandated to reintroduce geolocation tracking to ensure bets are only being accepted within the state.

Mendonça’s decision gave Loterj five days from 2 January to halt its nationwide activities and impose these geolocation mechanisms.

Loterj immediately appealed the decision, citing “defects, omissions, obscurities and material errors..

January 8, 2025

India GST enforcement agency given blocking powers for tax-avoiding gaming sites

The ministry of finance in India has granted new powers to the directorate general of GST Intelligence (DGGI) to begin blocking online gaming websites and mobile applications that are illegally avoiding goods and services tax (GST) in the country.

Confirmed this week in the Gazette of India, the new regulation – SO 95(E) – is effective immediately. The ministry said this intends to address fraudulent activities under both the Information Technology Act 2000 and GST Act 2017.

The DGGI is an agency tasked with mitigating tax evasion on behalf of the GST Council which enforces the tax requirement.

Online real money gaming companies operating in India are required to pay a 28% turnover tax for skill games. This was first enforced in October 2023 and was reiterated on 10 September last year, following a performance review of the tax measure.

Operators must be registered under the Simplified Registration Scheme of the IGST Act and appoint a person based in India to pay their GST contri..

December 20, 2024

Betano deputy CEO points to localisation and sponsorship as the keys to success in Brazil

Betano looks set to be one of the frontrunners when the legal market launches in Brazil on 1 January 2025, with deputy CEO Aris Dimarakis emphasising the importance of sponsorship and a localised approach.

Legal online betting in Brazil is now less than two weeks away, and operators such as Betano have been jockeying for position to ensure they capitalise on being among the first to enter what will likely be a top-three global gambling market.

Betano was the first to apply for a licence back in May, with the company enjoying early brand awareness advantages due to its sponsorship-heavy strategy.

Making Betano visible across Latin America

Betano sponsored the Copa América football tournament over the summer, while it also sponsors the top-flight league in Brazil, as well as a number of clubs.

Betano’s sponsorship of the copa América afforded the brand huge visibility across latin america

Dimarakis believes this has been crucial to Betano becoming front and centre in the Brazilian..

December 18, 2024

Brazil betting CPI rapporteur hits back after claims of extortion

Senator Soraya Thronicke, rapporteur of the betting Parliamentary Inquiry Commission (CPI) in Brazil, has called for help from the federal police (FP) to investigate claims of extortion within the group.

In response to growing criticism of the betting industry in Brazil ahead of the legal market launch on 1 January 2025, the betting CPI was established in November at Thronicke’s request. It aims to investigate the “growing influence of online gambling on [Brazilian families’ financial spending]”.

Last week (13 December) however, the CPI was plunged into scandal after a report from Brazilian magazine Veja made allegations of extortion linked to businessmen within the gambling industry.

Veja reported senator Ciro Nogueira alerted congress president Rodrigo Pacheco to a lobbyist from Brasília named Silvio de Assis seeking to extort members of the industry.

The FP are already reportedly involved, with De Assis allegedly requesting BRL40 million (£5.2 million/€6.2 million/$6.5 million)..

December 13, 2024

Brazil regulator approves 71 betting licences

Brazil’s gambling regulator, the Secretariat of Prizes and Bets (SPA), has issued 71 federal online betting licences ahead of the launch of the country’s regulated market next month.

In a meeting on Tuesday 10 December, Regis Dudena, the leader of the Brazil SPA, confirmed 71 licences are approved. The SPA is still evaluating the remainder of the 114 applications filed by the initial 20 August deadline.

Dudena did not disclose the identity of any of the successful applicants. However, he did say that all operators in this group have been contacted for final evaluation ahead of the market’s launch. Brazil is due to open its regulated market on 1 January 2025, with compliance prior to this required before an operator can launch.

“The final requirements here, in addition to some technical requirements such as certification of their betting system, are mostly related to financial matter, such as full capital, creation of a reserve account and payment of a concession fee,” Dudena said.

December 12, 2024

Gamban founder calls for horse racing to be excluded from affordability checks

Matt Zarb-Cousin, the co-founder and director of external affairs at Gamban, has called for horse racing to be exempt from the UK's new affordability checks.

In August, the Gambling Commission launched its financial risk checks pilot, which triggers more extensive checks for a player when their monthly deposit hits £500. This measure will be adapted in February 2025 when net deposits will be lowered to a threshold of £150 or above. These checks involve the UK’s largest operators and credit reference agencies.

Much of the criticism of affordability checks has come from the horse racing sector, which feels it’s being unfairly treated compared to other more high-risk forms of betting such as slots.

Zarb-Cousin feels that horse racing must separate itself from such verticals, with the belief it shouldn’t be included in affordability checks.

“I think horse racing needs to get as far away as possible from online casino, [which] is bringing the industry down,” Zarb-Cousin said on t..

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Tag: Legal & compliance