The fixed-odds mode is where the player attempts to predict the outcome of actual events, such as football matches, and wins by hitting the score. Interest in defining the new rules of activity surprised the economic area, whose public consultations on similar topics did not exceed 70 suggestions.
The plan of the economic team is to present, no later than December, a draft decree on the subject to the government and Congress. Under the law sanctioned last December, the ministry has until the end of 2022 to define the regulation - and this deadline can be extended until 2024.
Foreign models
The idea is that, based on the proposed decree, the definitive regulation is ready within a faster time than expected. Unofficial estimates indicate that the Brazilian market for electronic betting on sporting events is around R$ 4 billion (US$ 965m).
According to Waldir Marques, Sub secretary of Prizes and Draws at the portfolio's Secretariat for Evaluation, Planning, Energy and Lottery (Secap), in addition to bringing to the legality a number of online gambling services that currently operate in the country still in a legal limbo, the economic potential of regulation is huge:
“The idea is to bring this to legality to generate resources, income, source of employment for people. That is the idea of the Ministry. This market is already here and is not generating any resources for the government,” says Marques. “The physical market will generate immediate jobs for people, and online generates income for everyone.”
According to the Sub secretary, the economic team is leaning on foreign regulatory models to understand what framework can be built in Brazil: “We're looking for best practices around the world. We want to focus on the social control of this activity, a control that avoids addiction (under the age of 18), which provides prevention of money laundering and manipulation of game results.”
Legislation in force since last December states that it must be defined at the exact time of betting how much each player can win if he hits. Under Michel Temer's government sanctioned law, bookmakers, sports entities and online betting services will now report to the Union, and part of the revenue raised from the stakes will go to the public coffers. The National Public Safety Fund, for example, will be one of the destinations.
Source: GMB / Renata Vieira - O Globo
