Sports betting in Brazil remains unregulated

The lack of regulation has most sports betting companies in Brazil operating on offshore servers.

Brazil.- Sports betting regulation in Brazil will probably arrive soon. However, as lawmakers debate how and when, companies are already arriving in the country. Still, as clear regulation has yet to be enforced, growth opportunities are going to waste in the region.

As media outlet Terra Noticias reported, most sports betting companies in Brazil operate from offshore servers. That way, the country loses the potential to develop autonomously and get financial benefits.

For that reason, operators eagerly wait for new, unvoted regulations to be enforced soon. That way, sports betting companies in Brazil would be taxed and the economy would benefit from it.

“With new regulations, it’s possible that sports betting gets officially accepted by the government. That would bring security both for gamblers and investors, both local and foreign. That way, a big opportunity will open for those set to take advantage of the market,” the media outlet assessed.

Sports betting in the country

The regulated sports betting market could become the greatest attraction for the entertainment industry in Latin America. That’s why the government attempted to regulate the segment. It is now up to the new Jair Bolsonaro’s administration to enact said legislation.