Brazil Edges Closer to Sports Betting Legalization

The nation of Brazil is edging nearer to the authorization of wagering on athletic contests, as per one expert.

In a private discussion with Gambling Insider, BetConsult’s legal representative, Marcelo Munhoz Larrosa, disclosed that Brazil is progressively advancing towards the legitimization of sports wagering.

Following the endorsement of Provisional Measure 846/2018 by both legislative chambers and the head of state, there’s a significant amount of hopefulness surrounding the legalization of fixed-odds sports betting in the South American nation, he elaborated.

The populace has been anticipating this development for an extended period, Larrosa stated, and the Ministry of Finance projects that lotteries, encompassing sports betting, could yield approximately R$30 billion (US$7.7 billion) for the national government.

Departing President Michel Temer’s endorsement has the support of incoming President Jair Bolsonaro and his Justice Minister, former magistrate Sergio Moro, making it improbable to be overturned when they assume their positions.

Considering the backing from both the citizenry and government authorities, Larrosa holds the belief that this process is practically irreversible. He now inquires about the subsequent course of action and contemplates the prospects of other forms of gaming in Brazil.

“Positively, there are indications that the upcoming Federal Government intends to embrace a more permissive stance on the operation of the Brazilian economy,” he remarked.

Its widely acknowledged that the present administration in Brazil benefits from substantial backing by faith-based organizations, which aren’t particularly recognized for their enthusiasm for wagering. This was plainly evident in March when Senate Bill 186/2014, intending to authorize lotto, internet sports wagering, and casino diversions, was rejected by a Senate panel. Despite considerable attention from both domestic and global operators, the legislation was overturned by a tally of 13 to 2.

Although it’s premature to determine the future of other gambling forms in Brazil, certain specialists, such as Darocha, posit that 2019 might mark a pivotal moment for the sector.