New public betting lottery service
Rio became a popular subject of various slot machines in land-based and online casinos around the world, even though it is not a popular place for gambling. Brazil is currently working on new gaming options and Rio de Janeiro is looking for new gaming operators to help the market grow.
The Rio de Janeiro State Lottery (Loterj), the official lottery operator of the Brazilian state, recently published an announcement in the Official Gazette of Rio, looking for operators that can offer physical and online gambling options and that must show a history tested in their respective fields, gambling or sports lotteries, or both.
In recent years, intensive work has been done on the introduction of sports betting houses in Brazil but only recently have they received sufficient support from the local government. Final regulations are expected to be in place within the next two to three months, and Rio wants to make sure it is ready to go as soon as possible.
The Rio de Janeiro State Lottery will begin making its selections and the chosen operators will need to purchase a 60-month license for approximately $ 50 million.
Rio follows in the footsteps of Minas Gerais
Minas Gerais recently presented its plans for the expansion of the game in the state. Loteria Mineria announced that it will introduce new options, including sports gambling with fixed odds. It is currently in the process of selecting a technology partner provider, studying the candidatures of International Gaming Technology Brasil Data Services (IGT) - Scientific Games Brasil Ltda, Intralot do Brasil Trade in Equipment and Computer Programs Ltda and Thorsborg do Brasil Consultoria em Tecnología Ltda.
Sports betting legalization on the way
The legalization of sports betting is underway in Brazil and the regulation is expected to take effect in July. Not to forget the peculiarities of sports betting that differentiate the industry from traditional lotteries and put in place a sports betting infrastructure that requires much higher technical specifications to function.
In addition, legislators are taking into account many aspects related to the integrity of sports, the prevention of money laundering and match-fixing, as well as the exploitation of vulnerable consumers. Regulators and law enforcement officials have been investigating these issues and have participated in training events and seminars dedicated to properly addressing and regulating them.
The number of licenses allowed in the country is not yet known but Brazil is building its sports betting industry on a model similar to that of the United States with technology providers and sports betting operators targeting the country. License fees are expected to bring in up to $ 1.8 billion and no less than $ 730 million up front, making legalizing the industry a major talking point for lawmakers across the country.
There are already interested companies that have started to open businesses in the country, such as Compare.bet or BetWinner that has already signed a 4-month brand exposure agreement with ESPN in Brazil.
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