Online betting is more than just putting money on an outcome; it is a form of entertainment that should be enjoyed responsibly. At Sportingbet, we are committed to creating an experience that is safe, fun, and, above all, a celebration of sports and the community it fosters.
We have been dedicated to demonstrating to consumers that the world of betting is a viable and enjoyable option, just like any other in the entertainment industry. The recent regulation in Brazil is an important tool for this approach, seen as a crucial step in demystifying the market, showing that it is no longer illegal, like the casinos of the past.
With the publication of Provisional Measure (MP) No. 1,182/2023, the Federal Government has regulated fixed-odds betting, known as the betting market. This means that all betting houses now play by the same rules, ensuring more confidence and security for bettors.
Furthermore, the regulation will allow the country to collect taxes from the betting industry. It is estimated that annual revenue will range between R$6 billion (US$ 1.1bn) and R$12 billion (US$ 2.2bn) in a fully regulated market. These amounts will be a new source of revenue for the country's budget.
Betting companies will have to report to the Ministry of Finance, which will create a department responsible for document analysis, approval, or rejection of the accreditation of betting companies in the country. This department will also monitor the volume of bets and revenue, ensuring greater control over the market.
Sports betting has a long history, but it was the internet that transformed this pastime into an activity accessible to everyone. With just a few clicks, anyone can dive into this world, for fun or as a hobby. However, it is important to remember that, like anything in life, betting requires patience and moderation.
Patience is a virtue, especially in the world of betting. It is not about winning quickly but about understanding the process, learning from mistakes, and celebrating victories, no matter how small. Betting should be seen as a marathon, not a sprint.
The main goal of online betting should be fun. It is a way to add an extra layer of excitement to watching a sports event or participating in a game. When fun is the priority, online betting aligns with other forms of online entertainment, such as gaming and video streaming.
We aim to offer a safe and responsible platform for our users. We have implemented strict measures to ensure that the betting experience is not only enjoyable but also secure. We encourage everyone to bet responsibly and provide tools to help maintain control.
Antonio Forjaz
Head of Entain in Latin America
