The Brazilian government is set to take a significant step in combating illegal gambling operations by blocking transfers to these operators through the Pix system. The Ministry of Finance has established a dedicated team to monitor and prevent such transactions, aiming to curb the widespread use of Pix for payments to online casinos and sportsbooks.
According to estimates, up to 90% of payments in the field of online casinos and sportsbooks in Brazil are made via Pix, making it a primary target for the government’s crackdown. Experts believe that the Ministry of Finance will be successful in closing this payment channel for illegal operators, given the Central Bank’s oversight of the Pix system.
In addition to blocking payments, commercial banks will be required to immediately block accounts of clients linked to illegal gambling activities.
This crackdown will leave offshore operators with limited options, such as cryptocurrency or cash manipulation, both of which present significant challenges. As a result, the Brazilian market is becoming less attractive to offshore operators, as evidenced by the increasingly competitive CRA rates they are offering.
To delve deeper into the legal market in Brazil, we will feature an interview with the author of the BRAZINO777 Insider Channel in our upcoming “Expert of the Week” column.
