Brazil has recently made a significant step towards sports betting legalization. Our CEO and Senior Partner, Ilya Machavariani, has shared his insights on this development:
"You definitely have heard this already, but it is never a bad thing to repeat good news — Brazil has made a quite major step towards introducing a properly regulated market: in the end of July, Brazilian Government published Provisional Measure 1,182/2023 dated 24 July 2023 that is amending earlier 2018 legislation that was intended to commence the legalization of sports betting in the country.
Publication of the PM finally allowed to move the process forward as since December 2022 (when the four year term established by 2018 legislation expired and Ministry of Finance still has not issued relevant regulations), whole industry was eagerly awaiting to see what comes next for the huge Brazilian market that is now staggered by unregulated operations.
As of now, while I am writing these words, the PM has already seen more than 200 amendments introduced to it before the 31st July deadline that was set for the members of the Senate and Chamber of Deputies to provide amendments to the PM.
It is evident that the final document, if approved by Congress, will differ from what we see now. Nevertheless, it is still very encouraging to witness tangible steps forward.
Finally, as we at 4H Agency believe in the value of sharing, we have produced an English language translation of the PM for everyone's perusal. Furthermore, Michel Reznik, Head of Latam Desk at 4H Agency, has prepared a high-level overview of the Provisional Measure. This insightful summary delves into the core aspects of the proposal and outlines the resulting regulations. Michel’s expertise briefly provides an understanding of the potential impact of the Provisional Measure on the Brazilian sports betting market.
Please feel free to use it as you please and reach out to us if you wish to discuss your planned expansion".
Link to the PM overview and English language translation
"You definitely have heard this already, but it is never a bad thing to repeat good news — Brazil has made a quite major step towards introducing a properly regulated market: in the end of July, Brazilian Government published Provisional Measure 1,182/2023 dated 24 July 2023 that is amending earlier 2018 legislation that was intended to commence the legalization of sports betting in the country.
Publication of the PM finally allowed to move the process forward as since December 2022 (when the four year term established by 2018 legislation expired and Ministry of Finance still has not issued relevant regulations), whole industry was eagerly awaiting to see what comes next for the huge Brazilian market that is now staggered by unregulated operations.
As of now, while I am writing these words, the PM has already seen more than 200 amendments introduced to it before the 31st July deadline that was set for the members of the Senate and Chamber of Deputies to provide amendments to the PM.
It is evident that the final document, if approved by Congress, will differ from what we see now. Nevertheless, it is still very encouraging to witness tangible steps forward.
Finally, as we at 4H Agency believe in the value of sharing, we have produced an English language translation of the PM for everyone's perusal. Furthermore, Michel Reznik, Head of Latam Desk at 4H Agency, has prepared a high-level overview of the Provisional Measure. This insightful summary delves into the core aspects of the proposal and outlines the resulting regulations. Michel’s expertise briefly provides an understanding of the potential impact of the Provisional Measure on the Brazilian sports betting market.
Please feel free to use it as you please and reach out to us if you wish to discuss your planned expansion".
Link to the PM overview and English language translation
