Band TV presented in its ‘Jornal da Band’, the station’s main news show aired during prime time, a report defending the urgent regulation of sports betting in Brazil, indicating that the activity, approved since 2018, is still waiting for the rules for the operation within defined framewroks.
Band TV also indicates that the law may expire at the end of the year due to the lack of government action in the sense of regulation. “The ball that rolls on the field moves a billionaire market, the sports betting market,” its says.
In the report, well-known lawyer Neil Montgomery, who works in the sports segment, stated that “regulation provides legal certainty for the operator, more protection for the bettor, because in addition to enjoying the Consumer Protection Code, it will have specific rules for the sports betting industry.”
Band TV also stated that “while it does not regulate the law, Brazil loses revenue, as companies operate from outside the country.”
“The estimate is that sports betting houses move from R$4 to R$8 billion (US$ 775m to US$ 1.55b) a year in the country, which would mean up to R$ 700 million (US$ 135m) more in public coffers annually,” added the TV station.
The media group recalled that a few days ago the Ministry of Justice asked 54 entities, including clubs and federations, to present their advertising and sponsorship contracts with companies that operate this type of service.
“The State ends up transferring to the private individual a responsibility that it did not fulfill itself, which is to regulate the situation in the last four years,” said lawyer specialized in sports Danielle Maiolini to the report.
Source: GMB
