The Ministry of Agriculture published, on Thursday (8), an ordinance regulating the "National Racing Code", aimed at regularizing horse racing in Brazil. In the text, a novelty should cheer the industry: Jockeys Clubs are now allowed to promote bets on their races, that should contribute to the income of some more loss-making clubs.
The text provides that only clubs registered with the Ministry can promote the capture of bets. A race committee on behalf of the club must determine the closing of bets on each race.
The approval comes before the conclusion of a bill on the regulation of gambling in Brazil – which was approved by the House of Representatives in February and now awaits the Federal Senate. Despite this, betting on horses was an exception and allowed since 1984.
Even so, the low volume of bets and, more recently, the competition with foreign sites did not help in the financial health of clubs. On Wednesday (7), for example, the São Paulo Council approved the expropriation of the Jockey Club of the city, including its track in a prime area of the city. It must now become a park.
Betsson is currently the only private company authorized by the Ministry of Agriculture, Livestock and Supply to explore horse racing betting, through a partnership with the Rio Grande do Sul racetrack.
All bets on horse racing offered by Betsson are collected, processed and paid by the Jockey Club of Rio Grande do Sul, a turf entity authorized by the Ministry of Agriculture, according to Charter No. 16, and are in accordance with the rules contained in the General Betting Plan approved by the Ministry. The capture of bets on horse racing by turf entities is a legal activity in Brazil, regulated by Law No. 7291 of December 19, 1984 and Decree No. 96993 of October 17, 1988.
Source: GMB / O Antagonista
