As a football country, Brazil is going a step backward regarding regulated sports betting. The deadline for signing the deal expired on December 12, and the current president Jair Bolsonaro still needs to take action regarding the sports betting regulations in Brazil.
With the passage of Federal Law allowing fixed odds sports betting in both land-based and online casinos, Brazil has been trying to regulate sports betting for years.
As a result of this law, the government was given two years to create and sign off the regulations. The regulations, which included a €4.2m licence fee, were published in May by the Secretariat of Evaluation, Planning, Energy and Lottery.
Private sports betting facilities and lotteries in Brazil
Through a plan to end Caixa’s lottery monopoly in Brazil, Brazilian businesses may eventually be able to participate in fixed-odds sports betting. By law from both houses of the Brazilian legislature, a Health Lottery and Tourism Lottery would be established to raise funding for the National Health Fund (NHF) and the Brazilian Agency of International Tourism Promotion.
Whether private lottery operators will be able to offer sports betting in Brazil remains to be seen if this decision is valid. Additionally, Brazil is still poised to regulate online casinos and other gaming products.
In correlation with that, the House of Representatives was also approved in February this year. By law, they are allowed to bring casino games, online gaming, horse racing, slot machines, bingo and similar operations in Brazil. While licensed online gambling would be permitted, unlicensed foreign websites would be blocked, and servers for locally licensed iGaming operators must be located in Brazil.
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