The long-awaited regulation of sports betting was one of the main topics discussed at BiS SiGMA Americas, in São Paulo. According to lawyer Udo Seckelmann (Bichara e Motta Advogados), a mature regulation can unlock the potential of the Brazilian market and place the country in the Top 3 in the world in iGaming.
In an exclusive interview, the lawyer made a parallel between the growth of the event and the national market. “The event is growing. Now it is no longer possible to ignore Brazil and Brazil cannot ignore this sector anymore”.
“To show that this industry is gigantic and that Brazil needs security and regulation to be the top 3 in iGaming in the world”, he added.
About what has been taking shape as the terms of the regulation to be applied in the country, Seckelmann made some reservations, but stressed the need for Brazil to have specific legislation.
“As a good lawyer, I have some restrictions on regulation. There are crucial points that would need to be changed eventually to follow the best models in the industry and create an attractive market for bookmakers and protect bettors and revenue”.
For Udo Seckelmann, Brazil can gradually model its regulation like other countries. “In countries that have mature regulation like the UK, it wasn’t born perfect. It had some structural problems that over time were being changed. I think this is what Brazil should follow”.
In addition, he declared that the match-fixing scandal in Brazilian football and the CPI on sports betting “showed the need for regulation”, he concluded.
Check out the full interview with Udo Seckelmann:
