Zona de Azar Brazil – Brazil: Training on Regulatory issues Related to iGaming

Brazil.- October 25, 2024 www.zonadeazar.com In the second half of October, the Eightroom Vpag Group conducted internal training sessions with the in-person and remote participation of its marketing, sales, finance, compliance, and product teams.

The purpose of the training was to guide its employees on regulatory issues related to the iGaming industry in Brazil. The initiative lasted three days and covered different regulatory aspects. Initially, it focused on meeting the requirements for responsible gambling.

Next, it addressed affiliation and payments. Lastly, it discussed other legal and business aspects. All these topics are essential for strengthening the company’s operations in the regulated Brazilian market.

First day of training

On the first day, the workshop focused on measures related to marketing, advertising, and promoting responsible gambling. The newly created Integrity Committee of Eightroom Vpag aimed to list and exemplify the guidelines of CONAR’s Annex X. Additionally, it established processes and workflows to ensure proper alignment with these regulations.

At the same time, the Committee also focused on the responsible gambling policies outlined in Ordinance 1,231 from the Prizes and Betting Secretariat. Consequently, these actions reinforced the company’s commitment to ethics and integrity in advertising by operators within the country.

Julia Alves, Compliance Officer of the Group, summarized the initiative by saying: “The workshop was important to align our team with the new guidelines for the advertising of betting companies.

In addition to being a forum for clarification and discussion of the changes we are experiencing in this industry, it was an opportunity to reaffirm our company’s commitment to ethics and integrity with all our employees.”

The workshops focused on consolidation in the financial market. Additionally, they addressed the key role of Vpag and Pay in the group’s expansion strategies.

Eightroom Vpag Group obtains license from Central Bank

In August 2024, Pay, a member of the Eightroom Group, obtained a license from the Central Bank of Brazil (BACEN), becoming a Payment Institution (IP). This milestone strengthened the company’s position in the financial and iGaming sectors, ensuring that its operations fully comply with the country’s requirements.

The next two days of the workshop were dedicated to the financial market. In this context, industry experts provided an in-depth view of best practices. Additionally, they covered the interconnectivity of the Brazilian payment system.

To this end, The Sharp Fintech Consulting, represented by experts Luciano Fantin, Aciane Marino, and Manoel Jordão, led the training, helping Eightroom Vpag navigate the highly regulated environment of the Central Bank.

Employees left the workshop equipped with knowledge of the financial system’s operations and risk management mechanisms, which are essential to ensuring the sustainability of the group’s operations. The inclusion of Vpag and Pay as new products in Eightroom’s range of solutions was highlighted as a strategic step.

This move requires the same level of diligence expected of traditional banking institutions, emphasizing the importance of robust financial management in compliance with regulations.

Focus on compliance

On the third and final day, the focus was on compliance, a critical topic for both the payments and iGaming sectors. Participants discussed key challenges faced by the industry and the necessary measures to ensure customer security and compliance with current regulations.

Thus, case studies were analyzed to highlight the need for constant adaptation to market changes.

Regarding these finance and compliance-focused days, Pay’s Commercial Director, Bernardo Bicarano, stated: “We brought together employees from across the group to prepare for what lies ahead, considering the environment we operate in under BACEN’s regulations.

This is a crucial moment, as it serves as a learning and alignment experience between teams, as well as a key discussion on what we want to achieve in the future and how we plan to structure our team according to the group’s goals.”

In addition to the training, the group is also preparing to participate in SBC Miami 2024, which will take place from October 29 to 31. The event is recognized as a key platform for networking and business expansion in the iGaming sector. Eightroom Vpag maintains a strong presence at major global industry events.

Edited by: @_fonta www.zonadeazar.com