Brazil to fast-track sports betting launch
EGR understands Brazil aims to have regulatory standards published by end of 2019
The Brazilian government has launched a month-long consultation into sports betting regulations, as it readies a potential licensing launch by the end of 2019.
EGR understands the Brazilian government’s plan is to accelerate regulatory progress, far faster than the initial two-year window provided for when the sports betting bill became law in December.
It is understood the government plans to immediately commence work on the regulations after this consultation completes, with a view to issuing them prior to the end of 2019.
The licensing process will follow “best international practices”, with civil servants being transferred from other Brazilian government departments during the licensing process to cope with expected demand for licences.
The consultation asks industry stakeholders to confirm the “the most appropriate form” of legal regime for sports betting, calling for responders to identify a specific jurisdiction with commensurate regulatory standards. Feedback on the initial bill, first greenlit in December, is also requested.
The consultation also asks stakeholders to give their opinion on what the minimum number of operators to receive a licence should be.
Brazilian PM Jair Bolsonaro has changed much of the governments stance on sports betting since taking office last year
Earlier this year, the Brazilian government confirmed that it would not cap the number of sports betting licences up for grabs.
Responders are also asked to identify the best government agency or sports betting regulatory body by which future progress on sports betting can be measured.
In its consultation paper, the Brazilian government said it seeks a regulatory model “that addresses issues essential to the future operation of the public service” and calls for the adoption of practices including AML, CSR and integrity.
As part of this, the paper asks for responses on the minimum market surveillance, control and monitoring processes required in an ideal market, while also asking for any potential changes to criminal laws required to combat illegal gambling.
The consultation closes on 30 August.