Sports bookmakers play a major role in the Brazilian football economy, sponsoring a number of the country's top teams, but they operate in a fragile scenario from a legal point of view. According to Law 13,756 of 2018, sports betting that met certain minimum criteria were allowed in Brazil. The complicating factor is the duration of the legislation, which will expire in December 2022.
Thus, the sector depends on new political initiatives to remedy its insecurity. The alternative that is presented is the Regulatory Framework for Gaming in Brazil, or Bill 442/91, which regulates the segment, including casinos, bingos, jogo do bicho, in addition to sports betting. The Chamber of Deputies approved the text, which should go to the Senate.
In an interview with Radar Econômico, the rapporteur of the project, deputy Felipe Carreras (PSB-PE), says that the matter would have to be approved urgently by the Senate, to ensure the business of bookmakers from next year.
“After the elections, things work. Congress has an obligation to work. I personally met with the president of the Senate, Rodrigo Pacheco (PSD-MG), who intends to put the project to a vote later this year. I am convinced that it will be voted on and approved, considering the conversations I had,” he comments.
After participating in a seminar on Wednesday last week (24), Pacheco made a statement to the same effect. “As soon as the elections pass, we will make an assessment of the appreciation [of the milestone] in the Senate”, said the president of the House.
Carreras also expressed his views on the legislation. “I am absolutely in favor of legalizing all gambling in the country. The project generates employment and increases the State's revenue, earmarking resources specifically for areas such as education, health and sport, as foreseen in the report”, he says.
Despite the general optimism, certain businesses would not gain the desired legal protection with the approval of the project, since only bookmakers based and operating in Brazil would be allowed. Big brands like Sportingbet and bet365 are not covered by the proposed legislation.
Source: Veja
