Arbusers

The newly elected government of Brazil is looking to tax the betting sector, leaving aside online casinos. Brazil’s Minister of Finance, Fernando Haddad, stated that the new Socialistic Government of Brazil under Lula Da Silva will focus on moving forward on ''electronic gaming'', and will sanction betting. So far, there are no plans showing that online casinos will be included in the upcoming plans. Leaks from the Ministry of Finance, say all measure against betting is entirely focused on fixed-odds sports betting and there are no plans yet for the exchanges.

Today's gambling regime of Brazil, has many similarities with Europe's situation at the 90s and the 00s. There is a total anarchy, and even ewallets and banks operating in the country do not feel obliged to follow any regulation, simply because there is none. Cash markets is mixed with ewallets, and agents of all spectrums operate in the gambling ecosystem. Advertisement is conducted through various types of celebrities, spanning from models to veteran football players and singers.

Luiz Inácio Lula da Silva is back as the new president of Brazil. Did you know that Lula was trained by the secret services of Albania back in the 60s? He lived in Tirana as a student at the former Communist Party School. Today, he claims being a socialist, but that is a euphemism.

arbusers wrote: ↑

Thu Mar 09, 2023 8:44 am

Did you know that Lula was trained by the secret services of Albania back in the 60s? He lived in Tirana as a student at the former Communist Party School. Today, he claims being a socialist, but that is a euphemism.

This is original arbusers I am sure. Wondering where is Balls of Steele?

The regulation of the Brazilian market is running in full speed and it seems that Brazilian government learns quickly from the European experience. The Secretariat of Awards and Prizes (SPA) published a reviewed framework focusing on wagering incentives such as free bets and bonuses.

You guessed it right, all incentives are forbidden.

The framework goes further in an attempt to ban crypto payments and the cash market. All payments and credits of winning action are required to be paid out to players within 2 hours after a market is decided. Withdrawals, deposits, and payouts can only be made via electronic transfers.

This framework will come into force in October 2024.

The flat ban of all incentives is clearly serving the interests of the bookmakers who do not wish an additional burden and competition of this kind. The 2hr demand for payments look great to protect the players, but who/how will implement it remains to be seen.

I think I said many times the window is closing rapidly in Brazil.