Operation Conto da Sorte is the government's first serious initiative to combat illegal betting and will be intensified to ensure the sustainability of the legal iGaming market in Brazil.
On Thursday, the Federal Revenue Service launched Operation Conto da Sorte, a joint action with state Public Prosecutors’ offices that revealed an illegal betting scheme involving 37 companies and an estimated financial movement of BRL50 billion ($9.7 billion).
The information was confirmed by the Minister of Finance Dario Durigan and by official statements from the federal government. He stated that there is zero tolerance for illegal bets.
The operation executed 14 search and seizure warrants in Pernambuco, Ceará and São Paulo. The focus was on collecting documents and media, and verifying the actual structure of the companies under investigation. In addition, the court ordered the freezing of up to BRL145 million in assets. This amount may be used to compensate for damages resulting from th..