Brazil OKs Draft Sports Betting Bill

Brazil’s Senate has approved draft legislation that would create a regulatory framework for fixed-odds sports betting. The legislation must also be OK’d by Brazilian President Dilma Rousseff.

The Brazilian senate has approved draft legislation that would pave the way for fixed-odds sports betting in the country. According to SBC News and other media outlets, the draft legislation advanced because lawmakers are concerned about the popularity of foreign online betting services. Brazil has no regulatory provisions to combat illegal betting sites targeting its citizens.

Few details are yet available on the bill introduced by Senator Ciro Nogueira, except that operators seeking to enter the Brazilian iGaming market must have physical operations within the region regardless of the operator’s listed country of origin.