Today marks a historical milestone as the Brazilian Senate has passed the bill  that will regulate sports betting in Brazil. The vote encountered a setback last week when a group of senators opposing the bill successfully invoked Senate rules, affording them additional time to scrutinize the proposed measure. Senator Angelo Coronel, the bill’s rapporteur, has played a pivotal role in advancing the betting industry with recent developments concerning the sports betting bill in Brazil. Since 2018, there have been concerted efforts to in Brazil, aimed at bringing regulation and balance to a market that had long been entrenched in unregulated practices that have been hugely detrimental to the Brazilian economy stemming from the loss of potential revenue. Modified in the Senate the text will return to the Chamber of Deputies for analysis. The base text was approved in a symbolic vote, with many opposition votes, and three highlights were considered, of which two were approved. With 37 votes in favour and 27 against, the senators included an amendment by Senator Carlos Portinho that limits the scope of the project to games based on real events, excluding online casino games. By 36 votes in favour and 25 against, the senators decided to maintain the advertising of bets in sports arenas and the sponsorship of gaming houses for athletes — an amendment that prohibited these practices had been presented by senator Eduardo Girão, but ended rejected.

A look back at key dates

With the backdrop of global crises and inflation, addressing the economic challenges became imperative, prompting Senator Angelo Coronel, a proponent of gaming, to take the lead on this critical bill. The anticipated benefits are twofold: the Brazilian economy stands to gain from the growth of the sports betting industry, and the bill introduces much-needed regulations to mitigate the risks of irresponsible gambling. Here is a brief timeline of regulatory key dates leading up to today’s vote:

Heightened interest in the SiGMA Americas Summit

This legislative journey coincides with the upcoming SiGMA Americas Summit scheduled to take place in Sao Paolo in April 2024. The summit, renowned for its significance in the gaming industry, has witnessed a surge in demand for booths and sponsorships as industry leaders and stakeholders anticipate the unfolding regulatory landscape in Brazil.

The SiGMA Americas Summit stands poised to be a key platform for networking, collaboration, and discourse among industry players seeking to navigate the evolving regulatory terrain in Brazil. The current Brazilian regulatory landscape has only heightened the relevance of the summit, making it a crucial forum for understanding and adapting to the potential shifts in one of Latin America’s largest markets.

Join SiGMA Eurasia in Dubai between the 25 and 27 February 2024

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City, providing invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets. Find all the details here.