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Brazil Finally Regulated Sports Betting
At last, after years of delays, sports betting has become legal in Brazil. President Luiz Inácio Lula da Silva signed the Provisional Measure (PM) to implement the 2018 law, marking a significant milestone in the country’s gambling industry. Now, sports enthusiasts can enjoy betting legally and responsibly in Brazil.
This is a significant move from the initial passage of the law since 2018. It represents a major move forward in to developing industry in the Brazil.
Brazilian Law
The government has issued a Provisional Measure (PM) regarding sports betting, and now the National Congress has 120 days to approve it. As of today, the regulation is in effect, but the Congress may still block it.
The Ministry of Finance will now create the National Secretariat for Games and Betting (SNJA) to regulate the sector. The SNJA will be responsible for setting up license procedures and other technical regulations.
Advertising Restrictions and Rules
In addition to legalizing sports betting, the new law in Brazil includes more comprehensive marketing and advertising restrictions than the 2018 law.
Under the new regulations, operators must promote responsible gambling messages and are prohibited from acquiring broadcast rights for sports events.
A self-regulatory framework has been established, and gambling businesses are required to adhere to the standards set by the National Council for Advertising Self-Regulation (CONAR).
These measures aim to ensure responsible and ethical advertising practices within the gambling industry, providing a safer environment for players in Brazil. Stay informed and compliant with the latest regulations as the gambling landscape evolves in the country.
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