The Brazilian Senate’s agenda for 2024 will include a bill that would ban celebrities being used in sports betting advertising, iGaming Business reported February 19.
The country’s long-awaited sports betting market is expected to go live this year after the Chamber of Deputies followed the Senate and approved of Bill 3,626/2023 late last year.
Longtime gaming opponent Senator Eduardo Girao has offered amendments to that bill that would ban anyone who is considered to have influence from gambling marketing. His goal, he says, is to protect consumers from gambling harms.
He cites other jurisdictions that have adopted such bans, including Ontario, in August 2023, France, Belgium and the Netherlands. In addition, Germany and Italy have very strict rules for sports betting marketing.
The next step in launching the market includes the Ministry of Finance publishing regulatory guidelines for operators. Reportedly 130 operators have said they want to apply for licenses by submitting “expressions of interest” to the Ministry of Finance.
Neil Montgomery, managing partner of Brazilian law firm Montgomery & Associados commented on when the regulated market is likely to launch.
He told iGaming Business, “Given the need for the ministry of finance to issue a number of administrative norms further regulating the different topics covered by the Bill of Law, with the same also being put to public consultation before they become effective, it is more likely that Brazil will see a regulated market operating in the second half of 2024.”
This, he said, would give operators who haven’t entered the market enough time to do so. Such operators who submitted expressions of interest will be reviewed faster.
Montgomery added, “They will also need to satisfy all other legal and regulatory requirements (such as paying the expensive BRL30m license fee and hiring the necessary members of staff for the key positions laid down by the new legislation).”
