A ray of light comes from Brazil against the Soviet style gambling regulation and tax from Europe. Brazil has approved a new legislation that includes plans to authorise offline and online sports betting for the first time.
What is amazing is that Brazil is taking measures to promote sharp action for the players by making sure that competitive odds are delivered.
The new legislation requires offline operators to pay out a minimum of 80% of betting handle to their customers, while online operators must pay out a minimum 89% to players. This is the first time that we see such a prerequisite.
The legislative body is giving a time period of maximum 2 years to the Ministry of Finance to issue an unspecified number of licenses for operators.
So far, Brazil's betting scenery is compiled mainly by underground bookmakers and rings, copying odds from 2-3 European providers and dominated by cash markets and Hawala systems.
What is amazing is that Brazil is taking measures to promote sharp action for the players by making sure that competitive odds are delivered.
The new legislation requires offline operators to pay out a minimum of 80% of betting handle to their customers, while online operators must pay out a minimum 89% to players. This is the first time that we see such a prerequisite.
The legislative body is giving a time period of maximum 2 years to the Ministry of Finance to issue an unspecified number of licenses for operators.
So far, Brazil's betting scenery is compiled mainly by underground bookmakers and rings, copying odds from 2-3 European providers and dominated by cash markets and Hawala systems.