The competition model for sports betting in Brazil will be define soon
Friday 01 de March 2019 / 13:09
⏱ 2 min read
(Brasilia).- The Ministry of Economy wants to define in the first semester of 2019 the most viable model of competition for the Brazilian market in what refers to the operation of sports betting in fixed odds (in which the bettor knows in advance how much you will receive if you win), within the regulatory process of Law 13.756 / 2018.
According to the Secretary of Evaluation of Public Policies, Planning, Energy and Lottery of the Ministry of Economy, Alexandre Manoel, two models of operation are being evaluated, both for the physical betting modality and the online modality. "This decision depends on the choice between a fixed or variable number of companies that are going to operate the bets. If we decide for a fixed number, we will choose the concession model. If it is a variable number, the model will be of permission", he indicates.
The Law requires that fixed-rate sports bets are necessarily competitively operated. Once the definition stage of the competition model has been completed, the government will design the minimum structure to carry out the regulation, both in physical and technological-operational terms. "The existing structure is only enough to regulate the Federal Economic Fund, which today is monopolistic, and also the bet by means of instant lottery, which will soon be operated by a completely private company, consortium or Specific Purpose Society (SPE)" explains the secretary.
Alexandre Manoel emphasizes that the main objectives of the federal government in regulating this law will be to expand the participation of private initiative in the Brazilian market, facilitating the creation of jobs, and ensuring the integrity of sports. "What moved the Ministry to support the congressmen was to understand that this regulation contributes to the integrity of the sport, ensuring that the results of the matches will be reliable and resulting from the effort of the athletes," he analyzes.
As for the companies that use sites hosted in other countries to operate sports bets in fixed quota in Brazil, the secretary highlights that they are illegal. "By regulating the law, we will adopt all legal measures to toughen the existing penalties, as a regulator, we will deal exclusively with what is legal, what is illegal is a police case," he stresses.
Law 13,756 / 2018 indicates that the government will have two years, extendable by two others, to regulate it. According to Alexandre Manoel, the current expectation is to meet the initial term, without the need for an extension. "The objective is this, we are already advocating the opening of the lottery market to the private sector with the Lotex concession, the instant lottery modality that the government requests for the private sector, with an auction scheduled for March 26.
This concession that is made will certainly facilitate compliance with the regulation of the Law in two years, "he stresses.
Categoría:Legislation
Tags: Sports Betting, Sportsbook ,
País: Brazil
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