The Brazilian government, estimating that it can raise between US$740 million to US$1.85 billion by regulating sports betting, seems to be preparing for the plunge. According to iGamingBrazil.com, that figure doesn’t count taxation on the wagers.
Responsibility for the regulation of the 2018 law lies with the Ministry of Economy’s Secretariat for Evaluation, Planning, Energy and Lottery (Secap-ME). According to the current secretary, Waldir Eustáquio Marques Jr., the regulation should be ready by July.
“Sports betting has some peculiarities, different from traditional lotteries, and involve very strong technology requirements that need to be studied a lot, such as the integrity of the sport, prevention of money laundering, prevention of the pathology of vulnerable players,” said Marques.
“The administration technicians have studied a lot, participated in several events, trained so that we could regulate this activity without having to take a step forward and another step back.”
According to Marques, the previous administration almost approved a regime. “We came very close,” he said. “The secretariat was working on the authorization front. And, in this matter, we see some points that could be harmful. So, we had to put the brakes on, review the model, in order to be able to proceed safely.”
