THE SBC DIGITAL SUMMIT PANEL on Brazil betting market outlined the political twists and turns in developing the country’s federal framework.
Entering 2020, industry narrative pointed towards Brazil being home of the next big market opening for the betting industry.
However, betting leadership and on-the-ground stakeholders have been left frustrated by a continued delay in regulatory proceedings and lack of transparency in policy-making.
Moderating the Brazil Market panel at the Sport Betting Digital Summit,
Christian Tirabassi – Senior Partner of Ficom Leisure questioned whether operators can capitalise on any early market movements,
amid punctured regulatory developments.
Montgomery described Brazilian betting’s legislative journey as a ‘true soap opera’,
in which a novice government has been tasked with completing a two-year policy schedule to deliver Brazil’s first federal sports betting framework.
“Approved by the last government in 2018,
the law established a twoyear timeframe for the Ministry of the Economy to develop its regulations,”Montgomery explained
However, sweeping departmental changes in 2019 saw the Ministry of the Economy fail to publish its proposed framework and form the legal basis for a federal decree.
Proposals appear to be stuck in a never-ending ‘public consultation phase placed’ under the remit of SECAP.
The agency tasked by the Ministry of the Economy to deliver betting into law.
Having sanctioned its third open consultation.
SECAP bluster stated that it has received its ‘richest feedback from stakeholders’.
However, Montgomery detailed scepticism in achieving actual legislative progress.
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