Brazil's Finance Minister orders tighter oversight of online betting and says the sector is hurting families

Brazil’s Ministry of Finance says it will intensify oversight of online betting companies, after Minister Dario Durigan said the sector is causing “prejuízos às famílias” — losses for Brazilian families. For PSPs, acquirers, and banks, the practical signal is simple: tighter documentation scrutiny, more pressure on payment flows, and less room for bets processed through consumer credit.

1. Durigan made the remarks on Wednesday (10/6) during the opening of the 7th Plenary Meeting of the Council for Economic, Social and Sustainable Development at the Itamaraty Palace in Brasília. He said the federal government will step up inspections of the online betting sector.
2. The announcement came two days after the Ministry of Finance reversed a decision that would have classified betting-company registration documents in Brazil as secret for up to 100 years. The reversal followed reporting by Estadão.
3. On Monday (8/6), Durigan had already said the Ministry of Finance would form a task force with the Controladoria-Geral da União to grant access to documents related to betting registrations. He said that in the coming days, all processes involving prize and betting companies in the country would have “ampla transparência” — broad transparency.
4. Durigan also said online betting companies used to enjoy the same treatment as churches under previous administrations, but that this changed under Lula’s government. According to him, these companies now pay more than the average business sector and must provide data to the authorities.
5. The government says more than 30,000 irregular companies have been removed from operation, and it has banned the use of credit cards for betting. Durigan said “30 mil empresas de bets já foram derrubadas, e o mercado preditivo foi proibido” — 30,000 betting companies have already been taken down, and the prediction market has been banned.

Durigan also said the Ministry of Finance, the Ministry of Justice and Public Security, and the U.S. government will cooperate on financial flows linked to criminal factions. The operation will involve Brazil’s Federal Revenue Service, COAF (the Financial Activities Control Board), and the Federal Police, with a focus on freezing organized crime assets.