Sports Betting Ready for Launch in Brazil13 June, 2022
Sports betting enthusiasts living in Brazil have a lot of reasons to celebrate: sports betting is now ready for launch in their country!
We know how frustrating it may be to be a fan of sports and not be able to enjoy sports betting when it seems that everyone else is having so much fun with it. After all, why not get a little extra reward when you celebrate the victory of your favourite team so that you can immediately hit the pub with your friends and enjoy the team’s success? Of course, the sensation that you can make accurate predictions is as rewarding, no matter whether you’re betting on football or dog races.
Well, Brazilian sports fans will soon be able to enjoy these glorious feelings and get the full sports betting experience, with the bonus codes and other advantages provided by this activity included!
If you did not know, this is a serious reason to celebrate, as Brazil hasn’t been the most tolerant country when it came to this type of hobby.
Measures were taken to revive gambling as well, but things didn’t go as planned. Since 1946, Brazil has been under a law prohibiting gambling and all who did not comply with it could face three months to a year in prison and also had to pay a fine. Several months ago, Brazil’s House of Representatives approved a project aiming to legalize casinos, bingo, and other types of gambling. Unfortunately, Senator Rodrigo Pacheco, the head of the Brazilian Senate, was not fond of the matter and it is believed that the discussion will be stalled until next year.
However, sports betting fans in Brazil are luckier, as this type of gaming entertainment finds more support. It is believed that sports betting may become an important business in Brazil, so the Secretariat of Evaluation, Planning, Energy and Lottery (SECAP) is currently working on laying out a set of rules.
First and foremost, all operators will need to own a license under the regulations of the Ministry of Economy. They will be able to acquire as many licenses as they choose to, as there is no limit on their number. However, in order to obtain one, they will have to pay a licence fee of BRL 22.2m (£3.6m/€4.2m/$4.4m), but every license will be valid for 5 years.
Moreover, the licenses will have to promote responsible gambling, share a contract with an international monitoring body, such as the International Betting Integrity Association (IBIA), and also share any data with the Ministry of Economy. Besides the licenses, the marketing messages of the operators will have to also promote responsible gambling and come with no messages that lead to the players’ tendency to binge bet or bet big amounts of money that they don’t actually have in the hope of multiplying them.
Companies that are already operating in Brazil will have a deadline of six months in order to meet all the required standards. In case they do not succeed in being up the imposed level, they will not be able to qualify for a license.
As for the foreign companies that want to operate in Brazil, they first need to have a subsidiary in the country and also show evidence of having sufficient capital and financial capacity to manage to carry out the activity they are engaged to. There will be no fixed minimum amount previously established in order to determine whether a business has sufficient economic capacity or not. Instead, sufficient funds will be calculated according to the relationship between the business’ capital and the volume of bets it takes.
According to the data gathered by the H2 Gambling Capital, there are currently up to 500 foreign operators who want to acquire their licenses and begin their activity as soon as possible.
A piece of great news for the players is that operators will be allowed to offer bets not only on traditional sports but also on esports. Thus said, enthusiasts will be permitted to place bets on sports such as football, rugby, volleyball, tennis, box, darts and so on, but also on some of the most popular video games that make it to the category of esports, such as League of Legends, DOTA 2, CS: GO, Call of Duty, Age of Empires and many more.
Hopefully, everything will work out perfectly well and all the sports enthusiasts will be able to have fun with sports betting while, of course, playing responsibly.
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