The growth of sports betting on national soil has become increasingly expressive and notable, considering that the sport is only practiced lawfully on online sites.
The ConJur website published an article that explains why the growth of sports betting and how this is being seen by clubs and sports entities.
Check out Conjur’s article on sports betting in full
Although there are numerous stigmas that the term “bet” carries, the sports betting industry has been growing significantly in Brazil. Thus, although many people believe that betting, in general, are illegal activities, sports betting happens legally on the internet and companies in the field have attracted more and more interested parties, going far beyond football.
Along the same lines, sport practice (clubs) and administration (federations, confederations) entities began to see the activity as a new revenue option, through the negotiation of their marketing properties for the exposure of betting sites.
This new movement is mainly a product of the changes brought by Law No. 14.183/2021, which changed crucial points of Law No. 13.748/2018 and made fixed-quota sports betting economically viable for commercial exploitation.
It is worth remembering that the activity is currently only legal if it is operated by companies that are headquartered in other countries, where betting is already fully regulated. Therefore, there is still no fully national sports betting company that regularly operates within the Brazilian market.
Brazil has a very significant market share
Still within the discussions about the legalization of sports betting in the national territory, it is important to say that Brazil has a very significant market share, with great growth potential, due to the great popularity and predilection of Brazilians for activities involving sports.
It is estimated that in Brazil the betting market moves around R$ 4 billion and, without the legalization of the practice, the country would not take advantage of a great fundraising opportunity.
In this sense, there is no doubt that Brazil has great potential for exploring the betting market, which, properly regulated, will serve as a great source of revenue and revenue for the government, in addition to providing the creation of new jobs and activities in the field, such as occurred mainly in the United States and Portugal, and mostly explored in Uruguay.
Legally speaking, the industry cannot remain outside the law, existing without the State creating a set of rules that act on it. Therefore, the National Congress is debating a bill that aims to fully regulate the sector and the project must be voted on before the end of the year.
Betting works completely online
Due to the aforementioned legal issues, the sports betting service can only be explored virtually, that is, within websites or applications whose companies are based in other countries.
Such regulation does not prevent the service from being safe and, to avoid problems, it is necessary to do a previous research to choose the best place to bet, taking into account criteria such as trust by exposure and evaluation of third parties, good quotes and variety of sports , for example.
The vast majority of companies take special care both in relation to payments to be made to players and the registration data of website users, with a secure encryption system, which considerably reduces the chances of leakage.
