The main event in the betting world, ICE London 2024 is reserving substantial space for the Brazilian market. For José Francisco Manssur, special advisor to the Ministry of Finance, this edition is very special because it is “the first after the approval of the law”.
In an exclusive interview with the iGaming Brazil portal, Manssur highlighted that there is still a lot of work to be done, but that “it is impressive to see the interest of the betting world in Brazil. Just coming here to see how much the world is looking at Brazil.”
However, the representative of the Ministry of Finance highlighted that this interest further increases the responsibility of “creating a reliable and safe market and, at the same time, dealing with negative externalities, worrying about betting addiction, abusive advertising and fraud”.
“It is the government’s obligation to also face the problems so that we only have the positive side, the generation of jobs, distribution of wealth, everything that is positive in this context and leave the negative externalities increasingly mitigated in Brazil”, he added.
José Francisco Manssur reveals next steps in the regulatory process in Brazil
According to Manssur, people “waited 10, 15 years to have the Brazilian market regulated and now they are celebrating this possibility”, adding that at least 12 ordinances should be announced soon.
The most anticipated by the market is the ordinance that will provide the rules and deadlines for authorization requests. However, it is worth remembering that 134 companies responded to the Ministry of Finance’s prior expression of interest.
“There will be no harm to those who did not enter; This was the commitment we established with the market when we asked for prior approval. We were very pleased with the market response, because it gave us the opportunity to quantify.”
“I think the number could be this (134) or a little higher, but the important thing is that we now have a basis to prepare all systems to receive authorization requests and get the market working in a safe and reliable way” , concluded José Francisco Manssur.
