The Ministry of Finance in Brazil aiming to implement the approved sports betting regulations by the end of July.
An ordinance, published in Brazil’s Official Gazette of the Union, establishes the Regulatory Policy of the Prizes and Betting Secretariat of the Ministry of Finance.
The Regulatory Policy of the Prizes and Betting Secretariat will establish regulatory actions “considered priorities” and provide “legal certainty, predictability and efficiency to the process of regulating fixed odds betting.”
The ordinance also confirmed that the new regulatory body will aim to provide a “stable, current, transparent and attractive regulatory environment for sustainable investment.”
The implementation of Brazil’s sports betting regulations will take place in four stages, with the second, third and fourth phases taking place until the end of May, June and July, respectively.
Brazil's sports betting regulations were approved in December by the Chamber of Deputies, which also brought online casino gaming regulation back into the picture for the country.
