Lottery Secretary Leaves Office in Brazil With Possible Betting Repercussions

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Brazil’s Betting Industry faces on-going regulations but the departure of a key figure may not impact the ultimate results.

Alexandre Manoel, Brazil’s Secretary of Planning, Energy and Lottery (SECAP) is departing the Ministry of Economy. There may be a delay on sports betting legislation as a result.

The one thing that is sure is that Manoel is stepping down. The date has not yet been determined. In any case, the regulations are in process and likely to be soon.

Going back to 2018, Brazil approved legislation to legalize both online and land-based sports betting.

Operators are still waiting for a betting license. They are willing to pay the tax: 3% for online and 6% for land-based bookies.

According to SECAP’s undersecretary, Waldir Eustáquio Marques Jr., the government hoped to attract up to 50 major international betting operators to the country’s licensing process.

He hopes that Brazil’s betting licensees will fund local sports through legally-approved sponsorship activities.

Betting operators at the larger end have been sponsoring football teams. Other companies are posed to follow suit.

Along these lines, in late 2019, Nordic betting operator Betsson acquired a 75% stake in Suaposta, a Brazilian race better operator. It is the only fully licensed online betting brand in Brazil.

That is soon to change.

Source: https://calvinayre.com/2020/01/23/business/brazil-pols-exit-wont-impact-betting-regulation-timeline/

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