Zona de Azar Brazil – Brazil: Casinos Could be Legalised in 2025: the Sector Remains Hopeful
Brazil.- August 06, 2024 www.zonadeazar.com The sports betting sector in Brazil remains very hopeful about the progress of the bill to legalise casinos and bingos in the country. The bill is expected to be passed into law next year, with the expectation that the regulation of sports betting, scheduled for January 2025, will motivate Congress to legalise games of chance.
In June, the Senate’s Constitution and Justice Committee (CCJ) gave a favourable opinion on the bill to legalise casinos. Senate President Rodrigo Pacheco is expected to put the bill to a final vote in August. President Lula has already declared that he will sanction the bill if Congress approves it, strengthening the confidence of investors and entrepreneurs in the gambling sector.
Industry preparations for the new legislation
A digital payments company, which already has contracts with online betting and gaming companies, has stated that it is ready to operate with casinos as soon as the legislation is passed. Entrepreneurs in the sector hope that the regulations will bring in a large amount of federal revenue, demonstrating to society that gambling can be conducted responsibly.
However, the Lula government is expected to step up its efforts in Congress to get casinos approved only after the new rules have been implemented, setting the stage for a more structured and regulated market.
New Rules for Online Sports Betting
Recently, the Ministry of Finance established several rules for the operation of online betting companies starting next year. The new guidelines include:
- Only companies based in Brazil will be allowed to operate in the market.
- Sites with domains ending in “.com” will be blocked.
- Only addresses ending in “.bet.br” will be authorised to operate.
- Advertising with celebrities will be limited.
- Companies will be responsible for preventing gambling addiction.
With these new regulations, the betting market promises to boost the economy, create jobs and increase federal revenue. The regulations aim to strengthen the Brazilian economy by showing that casinos and sports betting can be carried out responsibly and add to the country’s revenue collection.
Edited by @pererarte www.zonadeazar.com
