Congress approved the legalization of sports betting in Brazil
(Brazil).- The Chamber of Deputies approved last Tuesday (November 20th) the Provisional Measure (PM) 846/18, which creates a new lottery by fixed quota that regulates online and land based sports betting and redistributes funds from the federal lotteries to the National Public Security Fund (FNSP).
The Ministry of Finances will have a period of two years, extendable for two more, to establishes the regulations for concession to the operators of this gaming vertical that has an estimated value of R$ 4.3 billion (US$ 1.15 billion) in Brazil.
The PM 846/18 replaces the PM 841/18 and now it is expected to be voted on the Senate by November 28th. (Source: Games Magazine Brasil).
From December 3rd to 4th, at the Pacaembu Football Stadium, in São Paulo, the Online Gaming Summit - OGS Brazil - will gather operators, suppliers, regulators and authorities to discuss the currently scenario and a future regulation of the sector of Online Gaming and Sports Betting in Brazil. Check the complete agenda and learn more about on how to attend: www.ogsbrazil.com.br