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Will Brazil Finally Establish the Well-Regulated Sports Betting Market?

21 August 2020, 13:28
Votes: 1

Brazilian betting news magazines discuss the latest information connected with the sportsbook market because it may mean great changes in this industry.

Will Brazil Finally Establish the Well-Regulated Sports Betting Market?

Brazil has extensive plans for the development of the betting sector. The government has already made several steps, which can help to propel this process. The creation of specialized agencies that will control and regulate this vertical is one of them.

The President has signed a decree for the marketplace privatization

The country’s President has recently signed the decree that will help to speed up the process of the betting market privatization. He has appointed two agencies that will be responsible for the different directions of the initiative. BNDES (the National Bank for Economic and Social Development) will monitor the execution and facilitate it, while the Ministry of the Economy will be responsible for creating the major requirements for companies that want to get a license.

It is worth mentioning that the development of the regulated betting market is a part of the Investments and Partnerships Program (PPI). It means that the vertical has an opportunity to attract financing and get investment from the privately-owned businesses.

Read more: Sports betting platform providers that offer the best products in the market

Read more: Gambling in Europe: peculiarities of regulations

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