The Brazilian Ministry of the Economy has launched a month-long public consultation on sports betting regulation as it works to develop a legal framework for the vertical.
The consultation, which began on 30 July and runs to 31 August, seeks input from the public and industry stakeholders on the most appropriate model for sports betting in Brazil. It is being conducted by the Secretariat of Evaluation, Planning, Energy and Lottery (SECAP), a division within the Ministry’s Special Secretariat of Finance.
It asks respondents to share views on whether a set number of sportsbook licences should be made available, or whether qualitative approach in which any company capable of fulfilling the licence conditions should be pursued. Stakeholders are also asked to suggest regulatory regimes in other countries that could act as a blueprint for the country.
The consultation is also looking to gather views on market monitoring, control and enforcement processes. Other issues such as player safety, fraud prevention, market integrity and anti-money laundering are also covered.
It is designed to complement work already underway to develop sports betting regulations, after outgoing President Michel Temer signed into law Provisional Measure 846/18, a bill that gave lawmakers until 2020 to come up with regulations. There is the option to extend the deadline by a further two years if progress is not made by then.
By regulating sports betting, the Brazilian government aims to channel a large unregulated market into the legal realm, as well as increasing private enterprises’ activities in the country, creating jobs and upholding sporting integrity.
“What moved the Ministry to support the [Senator Flexa Ribeiro, who introduced the bill] was to understand that this regulation contributes to the integrity of the sport, ensuring that the results of the games will be reliable and resulting from the effort of the athletes,” Secretary of Public Policy Evaluation, Planning, Energy and Lottery Alexandre Manoel said earlier this year.
The government is also looking for input from regulated jurisdictions such as Portugal, the UK and Italy as it develops the framework.