The gambling industry is growing exponentially, with countries across the world moving to lift archaic prohibitive laws and establish regulations that legalise the practice. This is particularly evident in Latin America, where gambling regulation in Brazil is rapidly progressing.
Operators have been keeping a close eye on the LatAm region, as it promises an extremely valuable market base as restrictions continue to be removed. In this article, let’s take a closer look at what’s happening with gambling regulation in Brazil.
The Legality of Gambling in Brazil
Gambling in Brazil was outlawed in the 1940s, with all forms of gambling except the state lottery, horse racing and games of skill such as poker made illegal. Since then, there have been increasing calls for a review of the law, one that would bring gambling regulation in Brazil in line with neighbouring countries like Argentina and Uruguay, where many forms of gambling are permitted.
Mounting pressure for a review was eventually acknowledged by Brazilian authorities in 2023, when sports betting and online casino legislation was passed. This was a key moment for the industry, with the tide appearing to turn in the largest and most populous LatAm country.
Now, authorities in Brazil have published a roadmap that outlines how these new regulations will be rolled out. This is vital for operators as it establishes a clear timeline that can be used to assess when gambling will become legal in the country.
The Four-Stage Roadmap
The first stage of the roadmap is set to be completed at the end of April 2024. During this stage, rules regarding payment options, security protocols and other technical details will be established. This stage will also see the publication of application process details for operators.
Stage two is expected to conclude at the end of May. This stage will involve anti-money laundering rules, as well as compliance standards for anti-terrorist financing and anti-fraud. During stage two, more information will be published regarding rules that will be in place for Brazilian gambling operators.
During stage three, the Regulatory Policy of the Prizes and Betting Secretariat (SPA) will set out both technical and security standards for online gambling operators. This stage will also see the publication of a gambling advertising monitoring framework.
Finally, stage four will outline how the gambling industry will contribute to social causes moving forward. This final stage is set to be completed by July 2024.
What Does this Mean for Operators?
The news that gambling regulation in Brazil is moving forward will have been welcomed by operators the world over. With a population of over 215 million, Brazil has huge commercial potential and has long been a target for operators.
The publication of the roadmap will give operators looking at Brazil a clear indication as to when they can expect to see regulations come into effect. If all goes to plan, this summer could be an incredibly exciting time for gambling in LatAm, and we should see the sector flourish under these new regulations.
Conclusion
The gambling world is growing rapidly, with countries across the world regulating the practice. As an operator, you should look to take full advantage of these opportunities, and we’re seeing a huge increase in the number of new games, such as live sic bo, launched across the world.
