backOn Friday (22), the Chamber of Deputies approved Bill (PL) 3,626/23, which regulates fixed-odds sports betting, including virtual betting, in Brazil. The text, which had been modified by the Senate, was sent for presidential approval.
The version approved by the Chamber included two important points:
- Reintroduction of bets on virtual gaming events, which had been removed by the Senate. This measure was defended by representatives of the gaming industry, who argued that banning online betting could lead to the proliferation of illegal sites.
- Restriction of times, programs, channels, and events for the broadcasting of advertising and promotion of betting.
The approval of the bill is an important milestone for the gaming industry in Brazil. With the regulation, the country hopes to attract foreign investment and create jobs. In addition, the regulation should help to combat illegality and protect consumers.
What’s next?
The bill approved by the Chamber should be signed into law by the president in 2023. After the presidential approval, the text will come into force immediately.
Campos Thomaz Advogados specializes in law and technology. We have a team available to answer any questions and provide legal advice regarding the subject of this release.
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