Brazil’s Waldir Eustáquio Marques Jr., undersecretary of SECAP, the Economic Ministry’s Secretariat of Evaluation, Planning, Energy and Lottery, predicts that the South American nation’s sports betting laws will be in place by summer. Sports betting could become legal by 2022, he said.
This requires action by the Chamber of Deputies and Senate and “must come out in July of this year,” said Marques.
He told G3 Newswire, “Sports betting has some peculiarities, different from traditional lotteries, and includes much stronger technology requirements, which must be studied quite a bit, such as the integrity of the sport, the prevention of money laundering, the prevention of pathologies among vulnerable players.” Marques continued, “The administration technicians have studied this a lot, participated in various events, and have been trained to regulate this activity without taking a step forward and another step back.”
The government hopes that license feels will generate up to $1.8 billion.
