Zona de Azar Brasil – Brazil: Bets are Offering Wagers on the 2024 Elections

Brazil.- September 11, 2024 www.zonadeazar.com With the upcoming 2024 municipal elections, betting houses are expected to generate millions in Brazil.

The first round will take place on October 6, and the second round – in larger cities where no candidate reaches 50% of the valid votes plus one – will occur on the 27th of the same month.

São Paulo is the focus of betting houses

According to a recent survey, at least six betting houses are offering odds on the municipal elections of 13 Brazilian capitals (see below):

• Belém (PA)
• Belo Horizonte (MG)
• Curitiba (PR)
• Florianópolis (SC)
• Fortaleza (CE)
• Goiânia (GO)
• Manaus (AM)
• Natal (RN)
• Palmas (TO)
• Porto Alegre (RS)
• Rio de Janeiro (RJ)
• Salvador (BA)
• São Paulo (SP)

The report analysis shows that only two betting houses (Betano and Novibet) allow users to bet on who they believe will win in all 13 capitals of the country.

The other four betting sites (Sportingbet, Superbet, Bwin, and BetSpeed) focus on the race for the position of mayor of São Paulo (SP) between the candidates: Guilherme Boulos (PSOL), José Luiz Datena (PSDB), Marina Helena (Novo), Pablo Marçal (PRTB), Ricardo Nunes (MDB), and Tabata Amaral (PSB).

The companies that were already operating in the country at the time of the publication of the “Betting Law” in December 2023 have until the end of this year to meet the criteria and gain the right to operate in Brazil under the “bet.br” brand.

According to the Ministry of Finance, from January 1, 2025, when the regulated market officially begins, any betting activities without authorization from the Prizes and Betting Secretariat (SPA) will be subject to penalties.

So far, 113 companies have applied for a license from the Organizational Management System (Sigap) to operate in the country next year.

Betting revenue in Brazil

The federal government estimates that it could collect up to 3.4 billion reais this year through license payments, each costing 30 million reais. However, the value is expected to be lower because not all companies that apply will be accepted.

But according to electoral lawyer Diogo Villela Barboza, from the Brazilian Institute of Education, Development, and Research (IDP), the issue is whether “elections could be influenced” through internet betting.

“What must not happen is that voting is influenced or has an unfair impact on the candidate. In other words, betting should not turn into a campaign that changes what is called odds [the probability of an event occurring],” commented Barboza.

According to lawyer Iasmin Gonçalves, to avoid legal issues, betting houses need to make it clear that odds do not reflect an electoral voting intention.

For Antônio Peleja, a specialist in electoral law and member of the Brazilian Academy of Electoral and Political Law (Abradep), since betting activity is still new in the country, “it will be up to the Electoral Court to analyze conduct that may affect the election on a case-by-case basis.”

There are no legal restrictions on political betting. What is not allowed are electoral polls.

Betting on the US elections

The United States (USA) has a tradition of betting on elections. For Americans, political betting is almost like polling.

“It’s something new here, but not in the US. It’s very popular there and a market that generates a lot of money,” said electoral lawyer Diogo Villela Barboza.

Data from the sports betting company Betfair shows that the US election generated over 500 million reais on its platform. Out of that total, 3 million reais came from Brazilian bettors.

Edited by: @_fonta www.zonadeazar.com