Brazil president reconsiders sports betting veto

Plans to regulate sports betting in Brazil were given renewed hope yesterday when a fresh bill was introduced into Congress and reports that President Dilma Rousseff may reconsider her decision to veto a previous bill.

The prospect of regulated sports betting market in Brazil looked to have suffered a decisive setback when the deadline to overturn Rousseff’s veto expired earlier this month, but a backlog in Congressional hearings means the debate on the veto will now take place on Tuesday.

Meanwhile Congressman Otto Alencar yesterday filed a new bill of law which also aims to liberalise and regulating the country’s gambling industry.

Even more encouragingly, eGaming Review understands that Rousseff, concerned by a major increase in next year’s budget, is now reconsidering the veto she delivered in August, having been encouraged by the estimated BRL20bn (£3.3bn) of revenues regulation could generate for the federal government each year.

Rousseff is reported to have met with aides yesterday to discuss how to proceed on the topic, although concerns remain over likely opposition from Congress’ religious factions to any bill.

According to Neil Montgomery, founding partner of São Paulo-based law firm Montgomery & Associados, the feeling among Rousseff’s allies towards regulation is positive, despite the administration cracking down on betting with offshore operators by introducing heavy fines for users.

All eyes will now be on Tuesday’s Congressional debate, with a majority of both the upper and lower houses needed to overturn the veto. But should Congress fail to overturn the veto, attention will shift to Alencar’s new bill, which will have to be passed through Congress before seeking presidential approval.