Brazil has reached a significant milestone as the Senate successfully passed a bill that will bring regulation to the sports betting industry. Although the vote faced a setback last week, opponents of the bill were given extra time to scrutinize the proposed measures.

Senator Angelo Coronel, a key figure in advancing the betting industry, has played a pivotal role in recent developments. The aim is to regulate sports betting, which has long been marred by unregulated practices that have had a devastating impact on the Brazilian economy by depriving it of potential revenue.

The modified text will now be analyzed in the Chamber of Deputies. The original bill was approved through a symbolic vote, with opposition from many senators. Three key points were considered, and two were approved. One of the approved amendments, proposed by Senator Carlos Portinho, limits the scope of the project to games based on real events, excluding online casino games. Another amendment, which had sought to ban advertising of bets in sports arenas and the sponsorship of gaming houses for athletes, was rejected by a vote in favor of maintaining these practices. Stay updated on the exciting developments in Brazil’s sports betting industry.

Brazil’s economic challenges, coupled with global crises and inflation, have brought the need to tackle these issues to the forefront. Senator Angelo Coronel, a gaming advocate, has taken charge of a crucial bill to address these concerns. The bill aims to achieve two significant benefits: boosting the Brazilian economy through the sports betting industry and implementing necessary regulations to mitigate the risks associated with irresponsible gambling. Here is a timeline of key regulatory milestones leading up to the upcoming vote:

August 2022: Bill 1561/2020 is approved by the Brazilian legislature, paving the way for two new national lotteries.

November 2022: São Paulo’s state government resumes the launch of its own state lottery.

March 2023: Bill PL 845/2023 is introduced in the Brazilian Plenary of the Federal Senate, proposing that licensed sports-betting companies operate within Brazil.

April 2023: Brazil’s Ministry of Finance holds a public hearing on regulating online sports betting, including measures to combat illegal activities. The Ministry also plans to ban sponsorships between unlicensed sports betting operators and sports teams, extending this prohibition to advertisements on various platforms.

April 2023: The State Lottery of Rio de Janeiro initiates a public tender process for entities to provide online and retail fixed-odds sports betting.

May 2023: The state lottery of Paraná announces a decree to establish an authorization system for sports betting operators in the state.

July 2023: Brazilian President Luiz Inacio Lula da Silva signs an emergency decree amending a federal law from December 2018 that authorized fixed-odds sports betting.

October 2023: The Brazilian government publishes an ordinance to begin the pre-application process for fixed-odds betting licenses.

This legislative journey aligns with the upcoming SiGMA Americas Summit, scheduled for April 2024 in Sao Paulo. The summit holds great importance in the gaming industry and has witnessed an increase in demand for booths and sponsorships as industry leaders and stakeholders anticipate the unfolding regulatory landscape in Brazil.

The SiGMA Americas Summit serves as a pivotal platform for networking, collaboration, and discussion among industry players navigating the evolving regulatory landscape in Brazil. The current regulatory scenario in Brazil has only heightened the summit’s relevance, making it a vital forum for understanding and adapting to potential changes in one of Latin America’s largest markets.

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