The sports betting market is growing stronger in Brazil. Proof of this is that there are not a few sites specializing in the subject and that offer various gaming modalities. And the trend is for the branch to grow exponentially in the country. So, discussing the matter is accurate. And that's exactly what happened in the third edition of Sports Tech Talk, an event sponsored by Brazil Sports Tech, on June 11 in São Paulo.
The meeting was attended by the lawyer Leonardo Neri Cândido de Azevedo, specialized in sports business, who spoke about the moment that is living the country in relation to sports betting and potential future of the sector. "Brazil would be a very conducive environment for resorts and entertainment linked to gaming," he said. "A study by Getúlio Vargas Foundation showed that if the activity were completely regulated in Brazil, the country could raise between R$ 15 and R$ 18 billion per year (US$ 3.9bn and US$ 4.7bn)."
In December last year, the then President of the Republic, Michel Temer, enacted Law 13.756/18, from Provisional Measure 846/2018. The new legislation releases sports betting in Brazil and allows sites to sponsor football clubs, as is already happening in the English Premier League. The Ministry of Finance still needs to regulate the activity, and the forecast is that this is still going to happen in 2019.
This will not affect betting websites that already operated in Brazil before the new legislation. "Usually these companies are not headquartered here. They are not in the Commercial Boards and do not have CNPJ. They make the site available in Portuguese, but do not give legal protection and the State does not receive anything from them. And because companies are in accordance with the laws of the country where they are based, there is no crime," explained lawyer Leonardo Azevedo.
This week’s event was the third of a series of meetings that take place on the second Tuesday of each month. "The cool thing is the breakthroughs, the experience exchanges and the opportunity to get to know other people for your own business," said Sports Librarian's Sports Network, one of the organizers of Sports Tech Talk.
The next edition should take place on July 10 - exceptionally, in July, the meeting will be on a Wednesday, since on Tuesday, the 9th, is a holiday in São Paulo.
Source: GMB
