"Brazilian betting market is great and we have the opportunity to regulate it"

The panel on BgC Sports Betting was moderated by Mauro de Fabritiis, who started by asking panelists about their views on the current betting market in Brazil. All agreed that the sector already exists in Brazil and that it needs to be regulated in "an embracing way”, as Pedro Lucas, from ApostasOnline.com, said.

"The market already exists, and it is very big. We have an opportunity for players to become legal and for companies to operate. Online gambling is legal, Brazilian legislation does not attack our conduct, so regulation has to be viable for everyone, with market for everyone," Lucas said.

The next issue was about the controversy whether there could be online bets and in physical locations. During the debate it was stated that the installation of physical venues in Brazil will not happen very early, but the two can live together and generate gains for the country. So explained Capitain Kip Peterson, from the Thorsborg Institute:

"It's not one or the other, they're both. Having physical venues makes sense, there's going to be more bettors, these betting points sell more, they're social. Let's not make it harder, it's a technological product, we have to use technology to regulate this and we can not kill the golden egg hen before with taxes," he concluded.

When talking about taxation, the concept of making the market interesting both to bettors and to operators came up again. Examples have been used such as Portugal and England where, according to panelists, misleading taxation has alienated both clients and companies. And in this scenario emerged a new important actor: technology. For debaters today there are more mechanisms for the gambler to look for, other ways to bet without having to pay taxes, just as there are also options for companies to offer these services.

Source: GMB