Key points:
- Ordinance No. 1,857 governs the transfer of data and funds between betting entities within the same economic group
- Explicit bettor consent is mandatory, and multiple options for managing funds and bets must be provided
- Deadlines are set for platform shutdowns, fund transfers and compliance documentation
The Brazilian Ministry of Finance has issued a comprehensive ordinance detailing the regulatory framework for transferring bettor data and resources between legal entities within the same economic group in the fixed-odds lottery betting sector.
Effective immediately, the new regulations provide a structured approach for lottery betting companies to manage data transfers and bettor resources. The ordinance outlines specific requirements and timelines for legal entities seeking to transfer bettor information and funds.
Key provisions of the ordinance include mandatory approval from the Prizes and Bets Secretariat of the Ministry of Finance. Legal entities must submit a formal request by 13 December 2024, accompanied by detailed documentation.
The transfer process is contingent upon several conditions, including explicit consent from individual bettors.
Bettors will be granted specific rights during this transition period. They can choose to either withdraw their funds or authorise their transfer to a new transactional account.
Good to know: Unclaimed resources will be allocated to public funds after 30 June 2025
For those with active bets, options include cancellation with a full refund or maintaining the bet on the new platform.
The regulations establish a clear timeline for the transfer process. Sending legal entities can maintain their platforms until 31 December 2024, with restricted functionality. Bettors will have access to both platforms until 31 March 2025, aiming to ensure a smooth transition.
Notably, any unclaimed resources after 30 June 2025 will be redirected to the Student Financing Fund and the National Fund for Public Calamities, Protection and Civil Defense.
