To Regulate The Betting Industry In Brazil Will Begin In Two Years

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February 2, 2022
2 minutes

Head of the secretariat for financial monitoring, energy and lotters of brazil (safel) alexander manoel angelo da silva reported that over the next two years new rules for regulating sports rates should be introduced.

To Regulate The Betting Industry in Brazil Will Begin in Two Years

According to the statement published by the ministry of the country plans to decide on the most acceptable regulation of the regulation of 2019 as part of the development of the law 13 756/2018.

According to the official, the authorities are considering both online and ground betting.

«This solution depends on the choice between a fixed or variable number of companies that will provide this service to players. If we decide on fixed quantities (at least two), we will choose a model „concession“. If it is variable, the regulatory system will be different», – reported angelo da silva in the official statement.

The law provides that the right to betting activities in the country can be obtained on a competitive basis. As soon as this stage is completed, the government will develop a minimum institutional structure for regulation.

«The existing structure is enough to regulate caixa econômica federal, which today is a monopoly, as well as to control the activities of an instant lottery, which will soon be managed by a private company», – he explained the head of the secretariat.

Alexander manuel stressed that the main objectives of the federal government, when it comes to regulating sports rates, is to increase the participation of private companies in the brazilian market, promoting job creation and integrity of sports.

«What prompted the ministry to support legislators, so this is an understanding that this provision contributes to the integrity of sports, ensuring that the results of matches will be true and will be extremely the result of athletes efforts», – commented on manoel.

In november, the senate of brazil approved the bill, allowing sports rates on the internet and in ground reception locations. The initiative was included in the temporary measure of 846/18, which will also redistribute the resources of federal lotteries and provide more funds by the national public security fund (fnsp).

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