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Olá pessoal!
If you’ve spent any time in Brazil recently, you’ve undoubtedly been bombarded by online sports betting ads every time you leave your home, watch television or surf the internet.
You’re not the only one. Brazil today has the highest number of gambling websites accessed globally, nearly double that of the second-place UK. Nearly every major football team in Brazil has an online casino or sportsbook as a sponsor.
Today’s episode takes a look at how Brazil has become the hottest online gambling market in the world over the last couple years, what will change when a new licensing regime goes live in 2025, and the overlap with the world of cryptocurrencies.
To break it all down, we’re joined by two experts who give us both the local insider perspective as well as a global point of view.
Udo Seckelmann is Head of Gambling and Crypto at Bichara e Motta Advogados, which is a top tier law firm in Rio de Janeiro.
James Kilsby is Chief Analyst & VP of Americas at Vixio Regulatory Intelligence. Vixio is one of the leading business intelligence and research firms focusing on the global gambling industry.
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Key takeaways from this episode:
Brazil legalized sports betting in 2018, but the industry has operated in a gray area without formal regulation until now.
New regulations will take effect on January 1, 2025, transforming the market from unregulated to licensed and regulated.
Cryptocurrency, particularly USDT, has played a significant role in facilitating transactions for offshore operators.
The new regulatory framework will prohibit direct use of crypto for deposits and withdrawals between operators and players.
However, operators may still be able to use crypto for back-end operations and fund transfers outside of Brazil.
The episode provides a comprehensive look of how Brazil arrived at this pivotal moment. A combination of factors, including the 2018 legalization, the introduction of PIX instant payments, increased advertising freedom and Covid lockdowns helped create the current online gambling boom. Now, as the country prepares to implement a formal licensing regime, operators are scrambling to establish local entities and comply with new regulations.
Looking ahead, our experts highlight several key points to watch:
The effectiveness of regulators in enforcing rules against unlicensed operators
How licensed operators will compete with potentially more attractive offshore options
The potential for crypto to become even more important in the unlicensed offshore segment
The challenge of balancing taxation and fees with the need to offer competitive products
I appreciated the opportunity to hear direclty from Udo and James about what’s at stake here. Definitely worth a listen whether you’ve been tracking the online gambling space for a while now or just starting to pay attention.
You can connect directly with both James and Udo on Linkedin.
Have a great weekend everyone,
-AWS
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