Online gambling as a growth driver

Resume Summary

Since the end of 2023, Brazil has introduced a full-fledged framework for the online market (Lei 14. 790/2023), transferring supervision and authorization to the Secretaria de Prêmios e Apostas (SPA) of the Ministry of Finance. In 2024-2025 a series of portaries detailed the rules of payments, advertising, technical audits and inspections, creating the basis for the mass "onshorization" of operators, tax transparency and the growth of related industries - from fintech to marketing and MICE events.

Regulatory framework: what has already been accepted

Lei 14. 790/2023 fixed online games and fixed odds bets: you can only work with preliminary authorization from the Ministry of Finance (SPA). The law set the principles of taxation and compliance.

In 2024, SPA released> 10 portaries: rules for certification, monitoring, responsibility for advertising, inspections "in loco." This has made the sector predictable for investors and safer for players.

The "Apostas de Quota Fixa" section with regulations and authorization requirements is open and constantly updated.

Payment model = increased trust and LTV

Payments in the "white" segment: PIX, TED, debit and prepaid cards are allowed through institutions approved by the Central Bank. Credit cards, cash, boletos, crypto assets and other "hard-to-trace" channels are prohibited. This reduces fraud, simplifies AML and speeds up prize payments.

PIX - infrastructure "accelerator": 24/7 instant transfers, mass penetration, transaction records in e-commerce and retail. New features (e.g. Pix Parcelado, Pix Automático) expand checks and subscriptions - important for iGaming.

Conclusion: the "regulation + PIX" bundle makes onshore sites faster, more transparent and more convenient than offshore ones - this directly increases conversion and retention.

Economic effects: taxes, employment, multipliers

Tax base and revenue control: Payments "only through BCB-licensed institutions" increase GGR/tax collection and player payment discipline.

Employment and service industries: legal operators create jobs in risk, compliance, BI/marketing, support, and spur demand for local ad platforms, club partnerships, and content production. (SPA emphasizes the goal of "regulated and controlled" sector growth.)

Fintech innovations: the development of PIX (including subscription and installment scenarios) reduces entry barriers for players without credit cards and increases the turnover of e-commerce, where iGaming is logically built in.

From gray to white: operator migration

In 2024, dozens/hundreds of companies applied for authorization; SPA has established an analysis schedule and compliance controls. This signals the maturity of the market and the expected shift of traffic to onshore.

Increased responsibility for "in loco" advertising and inspections raises the barrier to irregular sites and protects the consumer, while leveling the competitive landscape for legal brands.

Why online gambling is the growth driver in Brazil

1. Super payment infrastructure (PIX): high speed, low cost, record speed and prevalence - the basis for scalable iGaming.

2. Central Oversight (SPA): Uniform authorization, certification and compliance rules increase predictability for investors and advertisers.

3. The prohibition of "non-traceable" methods in the licensed segment (cash, credit, crypto, boletos) is a pure AML/KYC agenda, above the trust of banks and payment providers.

4. Regulatory Agenda 2025-2026: SPA leads Agenda Regulatória 2025-2026, continuing to customize rules from anti-fraud to technical standards. This reduces the uncertainty of the investment horizon.

Risks and balancing

Social risks and advertising: the regulator has already introduced responsibility for "abusiva publicidade" and increased monitoring. The hard framework for player self-control is part of the competitive advantage of "white" brands.

Offshore competition: persists, but is limited to locks, payment barriers and security/payment communications from authorized platforms. (The key is SLA and payout transparency through PIX/TED.)

Practical "growth map" for stakeholders

• automate payments and verification (CPF/KYC) as much as possible within the portary;
• build subscription mechanics (loyalty, responsible gambling) taking into account Pix Automático;
• emphasis on local sports marketing and secure advertising.

• integration with BCB participants, anti-fraud and data-stack for SPA requirements;
• accounting for future PIX functions (installment plan/revenue pledge) as a check extension and ARPU.

• employment programs (risk/compliance/tech-support), local advertising codes and omnichannel communication of the responsible game.

Looking Forward (2025-2027)

Onshorization will continue as SPA authorizations are issued and new PIX payment scenarios are connected;

The growth of e-commerce synergy (subscriptions/installments) will strengthen monetization in the licensed circuit;

The "crypto asset free" policy for "white" operators will maintain a focus on transparency and tax collection.

Bottom line: thanks to a rigid regulatory framework (Lei 14. 790/2023 + SPA portaries) and PIX's unique payment infrastructure, online gambling in Brazil is turning from a "gray" phenomenon into a regulated growth driver that brings taxes to the budget, jobs and fintech innovations to the economy, and players - speed and protection.

Sources and references: official text of the law and materials of the Ministry of Finance/SPA; clarifications on payment rules; BCB pages about the PIX news about new PIX features.