Further details regarding payment rules in Brazil’s actively regulating sports betting market have been published in a new ordinance.
The Secretariat of Awards and Prizes has ruled that payment of bets and winnings between operators and players must be made via electronic transfer.
That means operators are prohibited from accepting bets through cash, payment slips, cheques and virtual assets including cryptocurrency.
Credit cards have also been struck off as a payment option in the market.
The SPA also revealed in the latest update that operators must not grant bonuses and free bets.
Last week, it was confirmed that Brazil is aiming to have its sports betting regulations finalised by the end of July.
The rules will be set up in four phases, with the second, third and fourth phases taking place until the end of May, June and July, respectively.
