The new era of sports betting in Brazil
Mar 7, 2024 0:27:25 GMT -5
Post by account_disabled on Mar 7, 2024 0:27:25 GMT -5
The final version of the law does not differ much from what was already contained in Bill 3,626/2023, but the big news was the inclusion of online casino games in the text and in the license value of R$30 million, which is now also due to explore this activity.
Although the bill allows the offering of sports betting in physical establishments, in addition to virtual establishments, betting on online games can only be offered online. Another important item, included in Law 14,790, concerns the operation of state lotteries.
reproduction
During the regulatory process, thanks to the decision of the Federal Supreme Court (STF), which broke the monopoly of Caixa Econômica Federal (CEF) and allowed the exploitation of lotteries by states B2B Email List and the Federal District, much was said and debated about the possibility of offering state lotteries online to consumers located outside the respective state. Some states have even started their own authorization processes and announced the provision of this service nationally.
Law 14,790 contains an entire chapter dedicated to establishing rules for the operation of state lotteries and expressly prohibits “multijurisdictional” operations, making it clear that the commercialization and advertising of lotteries by states must be restricted to consumers physically located within the limits of their district. or territoriality.
Although the government's intention was to leave some aspects of the regulation to subordinate and administrative acts and despite the need to publish infra-legal acts that will address the details of the authorization procedure for the operation of this activity in Brazil, Law 14,790 is already quite detailed.
The regulation of betting, contrary to what many believe, brings benefits not only to the government, but also and mainly to consumers and the platforms themselves. It is important to keep in mind that the betting market in Brazil is an undeniable reality, and consumers today turn to offshore platforms to participate in this practice, without being able to claim their rights in cases such as non-payment of prizes.
Knowing the rules of the game and complying with them provides security and credibility to an activity that is still marked by a lot of prejudice in the country.
It is worth remembering that the Criminal Offenses Law, which prohibits the exploitation of games of chance, and is the only legal rule that deals with the subject, dates back to 1941 and, since then, has not undergone major updates in order to keep up with the market reality.
The introduction of effective regulation for sports betting in Brazil will not only recognize the practice as a legitimate activity, but will also establish clear guidelines for operations. This regulation, in addition to bringing transparency to the market, will be essential to guarantee security for consumers and other participants in this ecosystem.
There is still a lot of work ahead, especially in relation to online games, which are responsible for approximately 70% of betting platforms' revenue , but whose concept should still be meticulously worked on in the legal standard to avoid ambiguities.
Although the bill allows the offering of sports betting in physical establishments, in addition to virtual establishments, betting on online games can only be offered online. Another important item, included in Law 14,790, concerns the operation of state lotteries.
reproduction
During the regulatory process, thanks to the decision of the Federal Supreme Court (STF), which broke the monopoly of Caixa Econômica Federal (CEF) and allowed the exploitation of lotteries by states B2B Email List and the Federal District, much was said and debated about the possibility of offering state lotteries online to consumers located outside the respective state. Some states have even started their own authorization processes and announced the provision of this service nationally.
Law 14,790 contains an entire chapter dedicated to establishing rules for the operation of state lotteries and expressly prohibits “multijurisdictional” operations, making it clear that the commercialization and advertising of lotteries by states must be restricted to consumers physically located within the limits of their district. or territoriality.
Although the government's intention was to leave some aspects of the regulation to subordinate and administrative acts and despite the need to publish infra-legal acts that will address the details of the authorization procedure for the operation of this activity in Brazil, Law 14,790 is already quite detailed.
The regulation of betting, contrary to what many believe, brings benefits not only to the government, but also and mainly to consumers and the platforms themselves. It is important to keep in mind that the betting market in Brazil is an undeniable reality, and consumers today turn to offshore platforms to participate in this practice, without being able to claim their rights in cases such as non-payment of prizes.
Knowing the rules of the game and complying with them provides security and credibility to an activity that is still marked by a lot of prejudice in the country.
It is worth remembering that the Criminal Offenses Law, which prohibits the exploitation of games of chance, and is the only legal rule that deals with the subject, dates back to 1941 and, since then, has not undergone major updates in order to keep up with the market reality.
The introduction of effective regulation for sports betting in Brazil will not only recognize the practice as a legitimate activity, but will also establish clear guidelines for operations. This regulation, in addition to bringing transparency to the market, will be essential to guarantee security for consumers and other participants in this ecosystem.
There is still a lot of work ahead, especially in relation to online games, which are responsible for approximately 70% of betting platforms' revenue , but whose concept should still be meticulously worked on in the legal standard to avoid ambiguities.