Global Lottery Monitoring System (GLMS) shared its view on how Brazil might take advantage of legalized sports betting at last week’s Brazilian Football Expo, the biggest event of its kind in Latin America.
Speaking at the expo, which is organized by the Brazilian Football Association (CBF) and features numerous soccer clubs, was GLMS President Ludovico Calvi who outlined the significant opportunities the legalization of sports betting in Brazil will bring for Brazilian society.
It also provided an opportunity for Calvi to flag up some of the risks associated with liberating sports betting. He underlined the need for a sustainable regulatory framework that allows for an attractive betting offer, but at the same time prevents social and public order risks, like gambling addiction, money laundering and manipulation of sporting competitions.
During his address, he referred to the GLMS Code of Conduct on Sports Betting which, he said, could act as a reference point for a responsible and sustainable sports betting offer and also called upon Brazilian authorities to sign and ratify the Council of Europe Convention on Sport Competition Manipulations.
Calvi’s speech was timely given that the Brazilian government has just revealed some of the details around a proposed regulatory regime governing sports betting. The full scope of the policy will not be published until later this month, but Brazil’s Ministry of Economy has outlined a 1% turnover tax on sports betting, with operators required to pay $0.7m for a license lasting nine years.