Brazil's Secretariat for Prizes and Betting (SPA) has released over 2,000 pages of licensing documentation for the 85 operators authorised to offer fixed-odds betting. The move is intended to show how each applicant was assessed and on what grounds licences were granted.
The files contain five types of technical opinion produced by SPA: legal compliance analysis, probity checks on beneficial owners and senior management, review of funding sources and AML controls, confirmation of licence fee payment, and a final administrative report. The documents are structured so that any market participant can trace which stages an operator completed and which criteria were applied.
Publication is phased to comply with data protection law. The public versions retain the names of partners and executives but redact taxpayer identification numbers. Certificates and Federal Police reports have also been edited where they reference potential criminal proceedings involving operators.
SPA will continue releasing further batches as they are prepared. Confidential information and data protected by law will not be published. This level of transparency is rare in regulated markets.
