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Brazil’s TCU orders stronger oversight capacity for fixed-odds betting

Regulation

Brazil’s Federal Court of Accounts (TCU) ordered the Finance Ministry to strengthen oversight of the fixed-odds betting market, according to a report on its unanimous decision on 3 December. The ruling followed findings that the Secretariat of Prizes and Betting lacked adequate staff, technology and budget to monitor transactions and address money-laundering risks.

The order requires the ministry to address reported gaps in the resources available to oversee betting transactions.

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Regulation

Brazil’s PGR withholds position on fixed-odds betting measure before STF

Brazil’s deputy prosecutor-general Luiz Augusto Santos Lima said at an STF public hearing on 3 November that the prosecutor-general had not yet reviewed the case challenging the provisional measure on fixed-odds betting. Justice Luiz Fux said the court could return the issue to the legislative and executive branches, and noted that the STF would need to consider eight constitutional actions if asked to rule.

Brazil's Procuradoria-Geral da República (PGR) did not state a position on the provisional measure that banned fixed-odds betting in the country. This came at the end of a public hearing convened by Justice Luiz Fux of the Supremo Tribunal Federal (STF) on 3 November. Deputy prosecutor-general Luiz Augusto Santos Lima said the prosecutor-general had not yet reviewed the case challenging the measure.

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