Gambling software giant SOFTSWISS has announced that the company is one step closer to becoming the very first certified software provider in Brazil, seeing as it is currently awaiting the conclusion of its latest certification process. Once done, it will ensure that the company’s Casino Platform and Sportsbook will be deemed suitable for operation in Brazil.
January 1st, 2025, will mark the official start of Brazil’s regulated gambling market, and various rules have been adopted to ensure local gamblers will be able to enjoy a safe and entertaining gambling experience. As highlighted by SOFTSWISS, one of the rules has to do with player registration. Namely, SOFTSWISS will need to ensure that all new clients will provide the company with their CPF number (Brazilian Individual Taxpayer Registry Number) so that underage consumers are blocked from engaging in gambling. The measure seeks to enhance self-exclusion, prevent bonus abuse, and prevent fraud. Similar reasons lie behind Brazil’s strict Know Your Customer (KYC) requirements.
Another set of rules dictates that operators must ensure compliance with responsible gambling standards, and this, along with the aforementioned requirements, is something SOFTSWISS has assured is more than prepared to do.
Gambling Regulations in Brazil and Across the Globe
Apart from the rules mentioned by SOFTSWISS, Brazilian regulators have also made the decision to ban the usage of credit cards for gambling, and the same will apply to cryptocurrencies. Similar rules apply in jurisdictions such as the UK and Australia, but some countries have yet to put such a rule into effect.
One example is the Netherlands, seeing as the Dutch government has faced opposition from the banking sector regarding this issue. A spokesperson for the former Minister for Legal Protection, Franc Weerwind, spoke with broadcaster NOS this spring and said that there were doubts about such a measure’s effectiveness. Ideas for banks to assist in imposing limits on gambling transactions have also been rejected, and according to Ronit van der Schaaf, Retail Advisor at the Dutch Banking Association (NVB), the main issue has to do with client privacy.
Of course, even without a credit card ban, locally licensed operators need to adhere to various rules in order to continue being eligible for the Dutch gambling market. One such rule dictates that implementing wagering requirements or minimum bet amounts that players must meet before they can withdraw money from their casino accounts is strictly prohibited. This regulation was put into effect with the goal of ensuring that bettors do not encounter barriers when attempting to cash out money from their wagering accounts.
This week, nine operators were found to have failed to comply with the above rule, while four more are suspected of having committed the same violation. The former received a warning from the KSA that urged them to cease employing such tactics, while both groups were mandated to confirm that they do not delay client withdrawals. The KSA’s investigation into the said businesses was prompted by client complaints.
