VIE 26 DE ABRIL DE 2024 - 05:42hs.
Luiz Felipe Maia, partner of FYMSA Advogados

"Today we can discuss the 'how' instead of 'yes or no' in Brazil”

One of the most influential panels on the first day of BgC was the one that discussed the lottery market in Brazil. GMB talked to Luiz Felipe Maia, partner of the FYMSA law firm and one of the speakers in that session, spoke about the lessons learned from Lotex and the importance of adjusting sports betting law. He says that despite the shortcomings in the process of granting the instant lottery, the Brazilian market has a good future prospect waiting for the regulation of sports betting.

"The absence of interested parties in Lotex's bidding is the result of a series of factors, among which I would like to point out that there was at least a critical performance of the consultancy contracted by the government, which resulted in a public notice that established such high technical requirements that prevented the participation of several possible operators reducing bidders to a couple of companies," said Maia.

"Contrary to what was said by another member of the panel, I understand that it is unfair to place this responsibility on the shoulders of the regulator or Caixa. We have followed the work done for the regulation of sports betting and there is much merit in the way the process was conducted,” added Maia.

“There are, as I have explained, critical points that will need to be adjusted for the success of the sports betting operation, but if today we can discuss ‘how’ instead of ‘yes or no’, we owe this to the leading role of the Ministry of Economy team,” Maia concluded.

Source: GMB