The sports betting sector is optimistic about the bill that legalizes casinos and bingos in Brazil. The proposal foresees the sanction of the law next year, and the expectation is that the regulation of betting, which will come into effect from January 2025, will encourage Congress to legalize gambling.
Casino PL processing
In June, the Senate Constitution and Justice Committee approved the proposal. So, the perspective is that Rodrigo Pacheco, president of the Senate, will forward the final vote in August.
President Lula announced that he will sanction the project if Congress approves, increasing the confidence of investors and businesspeople in the sports betting sector.
A digital payments company, which has contracts with betting and online games, already has its operation prepared to work with casinos. According to businesspeople in the sports betting sector, market regulation will surprise with the high volume of federal revenue. Therefore, society will begin to understand that games can be played responsibly.
But the Lula government should only begin to act strongly in Congress to release casinos from this moment on, preparing the ground for a more structured and legalized market.
New rules for online sports betting
In recent days, the Ministry of Treasury published several rules for the operation of online betting companies in Brazil starting next year. Therefore, these new guidelines include:
- Only companies based in Brazil will be able to explore the market.
- Government will block websites with domains ending in “.com”
- Only addresses with the ending “bet.br” will be allowed
- Government will restrict advertisements with celebrities.
- Preventing player addiction will be the responsibility of companies
Thus, with the new regulations, the gambling market promises to boost the economy, create jobs and increase federal revenue. In other words, the regulation will strengthen the Brazilian economy, showing that casinos and sports betting can be carried out in a responsible and profitable way.
