Brazil, one of the largest regulated iGaming markets in the world, has set new rules which ban the use of credit cards and crypto currencies for payments related to gambling and sports betting.

The new rules were published by the Regulatory Policy of the Prizes and Betting Secretariat and the Ministry of Finance on 18 April in the national Official Diary of the Union, in the form of Normative Ordinance Number 615.

This new set of rules represents the beginning of the first stage of a four-part regulatory campaign that was presented last week by the country’s Ministry of Finance. This campaign will ultimately implement Bill 3,626, which was ratified by the Brazilian president in December 2023. The first stage is expected to be completed by the end of April and it will establish new rules regarding payments, technical aspects and security regulations.

Normative Ordinance Number 615 has established several new rules, with the first and most important being that iGaming operators in Brazil can no longer accept payments from credit cards, payments in crypto currencies or in cash. Moreover, payments in the form of payment slips or cheques are also prohibited.

All bets, withdrawals and payouts can be executed only through electronic transfers between the operators and their customers’ accounts. Moreover, the respective accounts have to be previously authorized by the Central Bank of Brazil. Operators will also have the obligation to deny payments from accounts not registered with the respective customer or from third parties.

Intermediaries between players and operators are strictly prohibited, but certain institutions authorized by the Central Bank are allowed to offer accounts on behalf of iGaming operators in some situations, for example to allow players to receive a prize that they won.

Winning Bets Paid Out in Less Than 2 Hours

Normative Ordinance Number 615 has also set a time limit for receiving prize payments on winning bets, operators must deliver that into the player’s account in at most 120 minutes.

The new rules also obligate operators to set up a virtual account for players in which they will be able to analyze details regarding their betting habits. This is expected to allow players to have a better understanding of their financial and betting information and make better decisions when it comes to managing their gameplay.

The respective virtual accounts will display the respective player’s betting history over the previous three years, with key aspects such as the total value of open bets and their financial balance on display.

Operators will also be in charge of managing their liquidity risk, including establishing a financial reserve of at least 5 million Brazilian Real, which would convert in around 950,000 U.S. dollars.

Source: “Credit cards and crypto banned under Brazil payment rules“. iGaming Business. April 18, 2024.

The post Brazil Stops Accepting Credit Cards and Crypto for iGaming appeared first on Keno Wizard.

A controversial new ordinance by the Clark County Commission seeks to solve the rising issue of pedestrian traffic jams on the city’s iconic walkways. Despite recent measures to improve traffic flow during the F1 Grand Prix, passersby stopping to sneak a peak at the race caused significant problems, motivating this newest proposal. However, this move faces substantial public scrutiny and may prove unlawful.

The F1 Grand Prix Highlighted Walkway Deficiencies

Las Vegas’ newest ordinance aims to establish “pedestrian flow zones” encompassing bridges and areas within 20 feet of adjoining escalators, stairs, and landings. Pedestrians within these zones would be prohibited from stopping, standing, or engaging in activities that impede movement or cause others to stop or stand, improving traffic across such chokepoints.

Clark County, the governing body of the Strip, justifies this move by emphasizing its interest in ensuring safe pedestrian access along the bustling Las Vegas. The proposal’s timing suggests a response to recent crowd behavior during events such as the F1 Las Vegas Grand Prix, which saw bridges packed with pedestrians trying to catch a glimpse and record the race.

To combat the issue of passersby clogging the pedestrian bridges, event organizers installed view blocks on several key junctions. However, these efforts proved unsuccessful as hopeful fans paused in search of a vantage point. Ironically, the crossings were constructed to alleviate pedestrian traffic, but recent data suggests they may be doing more harm than good.

Vegas Must Rethink Its Approach to Infrastructure

UNLV’s Department of Criminal Justice highlights that bridges were responsible for a significant percentage of disorderly behavior cases. These chokepoints also frequently face issues related to unhoused individuals, raising public safety concerns. The pedestrian bridge closest to the MSG Sphere has caused the most problems as pedestrians regularly pause to film the colossal external screen.

Despite Clark County’s ostensibly good intentions, the American Civil Liberties Union (ACLU) raised concerns, noting the ordinance could violate the First Amendment’s right to assemble. While acknowledging its impact on free speech, the Vegas authorities contend that the surrounding sidewalks would leave ample space for such activities without restricting the affected flow zones.

An upcoming public hearing on 5 December will offer a platform for public input and potential revisions. Clark County has proven willing to acknowledge feedback and cooperate to find the best solution. However, the issue highlights Las Vegas’ intensifying infrastructure problems. While local authorities take frequent steps to alleviate car and pedestrian traffic issues, a long-term solution would likely require a complete overhaul of the current system.

The post Las Vegas Considers Ordinance to Restrict Viewing Stops on Pedestrian Bridges appeared first on Keno Wizard.