Brazilian online sports betting platform Rivalo has launched a special campaign to support players affected by a recent regulatory action announced by the country’s Ministry of Finance.
This month, the Brazilian government directed all betting operators that have not applied for regulation to suspend their activities in the country as of October 1st. All customers who transfer their balances from other operators to Rivalo between September 19th and September 30th will receive a 25% cashback on their activities in September.
This action reaffirms the company’s commitment to offering a safe and reliable environment for its customers, according to Rivalo, in addition to demonstrating “support and trust in Brazilian regulatory institutions.”
With the new campaign, Rivalo noted that it seeks “not only to provide a safe gaming experience but also to encourage responsibility and compliance with local regulations.” For more information about the campaign and how to participate, users can visit rivalo.com or contact the customer service team via online chat.
The Brazilian government is modifying its rules as part of a broader effort to regulate the country’s rapidly growing fixed-odds betting market. The move came ahead of the formal implementation of the regulated market, scheduled to begin on January 1, 2025.
The new rules will crack down on unlicensed operators, who could face fines of up to 2 billion reais ($360 million) for non-compliance.
Betting companies that have submitted license applications will be allowed to continue operations through the end of 2024, provided they meet strict requirements, including a 30 million reais ($5.45 million) grant to start operating. Additionally, they must adhere to measures aimed at preventing fraud, money laundering, and abusive advertising, the ministry said.
Original article: https://www.yogonet.com/international/noticias/2024/09/23/79358-rivalo-unveils-25-cashback-campaign-in-support-of-new-brazilian-regulation
