The Legalization and Regulation of Bets in Brazil: A Critical Analysis of Unconstitutionality Actions in Light of the General Theory of Law

Abstract

The article addresses the legislation, regulations, compliance requirements, and supervision of Bets in Brazil. First, we mention creating the body responsible for analyzing requests for operating authorization, monitoring and supervising activities, and applying sanctions to operators. The text discusses the importance of the compliance structure, which is separate from other areas and enables independent risk prevention work. It also addresses the lawsuits seeking the unconstitutionality of the rules that legalized and regulated sports betting. The text is supported by graphs that illustrate the participation and, above all, the importance of the betting operator in the money laundering prevention system, from reporting suspicious transactions to the Board responsible for supervision, as well as reporting suspicious activities, such as match-fixing or other frauds. Monitoring, supervision, inspections, requests for information and access to data are also illustrated to facilitate understanding of the work of the supervisory body. Finally, we present our conclusion regarding the constitutionality of the law, our concern about the possible persistence of clandestine operators and the need to improve sanctions, especially in the criminal sphere, for people involved in illegal activities.