Brazil’s agency regulating fixed-odds sports betting has signalled a major shift in its approach to regulation of the market which will likely delaying the launch of legal sports betting in the South American country.
They are calling for public comment on a shift to a concession model, where a fixed number of licences are put up for tender. This marks a sharp turn from the original plan of a qualitative model, in which any operator able to meet the licence conditions would have been able to secure approval to operate.
The change is the result of an intervention from the Attorney General’s Office of the National Treasury (PGFN), which consults on legal matters within the Ministry of Finance.
The PGFN argued that a concession model would give the government more control over the Brazilian sports betting industry, both to crack down on wrongdoing by licensees and to tackle illegal operators targeting the market.
[FULL STORY HERE]
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