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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.
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Brazil’s outgoing president signed sports betting legislation into law in an astonishingly swift fashion.
It took Brazil less than 2 months to create a new betting environment in a situation where the state runs much faster than the private sector.
It remains to be seen how this environment unfolds and what the service is for the players.
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KenWilber
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Interesting. Do you know is there any similiar law for “european” bookies like bet365 which forces them to pay out specific portoin of the handle back to the customers?
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Interesting. Do you know is there any similiar law for “european” bookies like bet365 which forces them to pay out specific portoin of the handle back to the customers?
I doubt there is any for those who address the international markets. On a national level this is a case by case situation. In heavily regulated markets, States and bookmakers have no reason to offer better odds. Take a look at Greece and Denmark for example. In unregulated markets it is competition that drives to better odds. |
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What are the chances these new behemoth Brazilian bookies will accept EU punters?  |
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What are the chances these new behemoth Brazilian bookies will accept EU punters?
This is not something for the foreseeable future as they have to consolidate power within Brazil first, before they even start thinking about expansion. |
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More light to the shape of the new Brazilian gambling ecosystem.
A very competitive environment is about to be shaped in Brazil. Both land-based and online operators will have to pay a 1% flat tax on their betting turnovers. This taxation leaves breathing space for both operators and players to enjoy sharp odds. Online operators must pay out a minimum 89% to players. All operators must keep aside a financial reserve of approximately 1.7mn Euros, to ensure players will be paid even when operator's business goes bust. We believe this amount is small. A huge market like the one in Brazil would need a far bigger amount to keep aside.
Already a big number of operators expressed their interest in the new Brazilian gambling ecosystem, some of which are very much well known to the betting community. In addition, many operators are taking marketing positions, by securing partnerships with former Brazilian football players. We believe it is a matter of months until we see the new Brazilian market.
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apoel81
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Hope they will allow registration from EU in their bookmakers. Seems world legislation for punters tbh
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Hope they will allow registration from EU in their bookmakers. Seems world legislation for punters tbh
That would be perfect. But i do not think it will. Because all tendency is to make local domain .br like all other markets. And best would be .br otherwise you would see only same european limiting shity brands that are right now. |
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apoel81
To become a Pro
Karma: 24
Posts: 301
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Hope they will allow registration from EU in their bookmakers. Seems world legislation for punters tbh
That would be perfect. But i do not think it will. Because all tendency is to make local domain .br like all other markets. And best would be .br otherwise you would see only same european limiting shity brands that are right now.
.br domain has nothing to do with accpetance of customers from other countries. Take spain for example whereas there are some books with .es domain that accept foreigners. But it is enough to understand that they will target brasil customers . On a side note, once germany impies new law for gambling, for or less we will all be left with locals and curacao books lol |
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LazyBird
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Posts: 33
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Very interesting to see the minimum payout legislation. Though 89% seems a little low. With the lighting fast restrictions many commercial EU bookies apply to accounts and the relatively small losses to heavily restricted accounts, most would still be well within this threshold. It all depends on the customer base. If they had in any way a similar landscape to the UK/IE (which data usually shows they don't) then they could offer the 8% over-round markets we see, restrict & close as much as they please and still hit the 89% threshold with some left over.
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chopin
Gaining experience
Karma: 0
Posts: 2
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Hope they will allow registration from EU in their bookmakers. Seems world legislation for punters tbh
That would be perfect. But i do not think it will. Because all tendency is to make local domain .br like all other markets. And best would be .br otherwise you would see only same european limiting shity brands that are right now.
.br domain has nothing to do with accpetance of customers from other countries. Take spain for example whereas there are some books with .es domain that accept foreigners. But it is enough to understand that they will target brasil customers .
On a side note, once germany impies new law for gambling, for or less we will all be left with locals and curacao books lol
Wich spanish bookmakers accept foreigners? |
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apoel81
To become a Pro
Karma: 24
Posts: 301
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Hope they will allow registration from EU in their bookmakers. Seems world legislation for punters tbh
That would be perfect. But i do not think it will. Because all tendency is to make local domain .br like all other markets. And best would be .br otherwise you would see only same european limiting shity brands that are right now.
.br domain has nothing to do with accpetance of customers from other countries. Take spain for example whereas there are some books with .es domain that accept foreigners. But it is enough to understand that they will target brasil customers .
On a side note, once germany impies new law for gambling, for or less we will all be left with locals and curacao books lol
Wich spanish bookmakers accept foreigners?
Goldenpark.es and jokerbet.es paid fine. There are 2-3 more that accepts customers from my country but haven't opened account as the only withdrawal option is bank transfer. Check the full list here https://www.ordenacionjuego.es/en/url-operadores |
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Media report that Betsson confirmed that it has acquired a 75% majority shareholding in Brazilian racing operator Suaposta. It is the first acquisition that we expect to be followed by several others, including some bigger names. The Brazilian market is expected to be fully functional within 2020.
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sage44
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So?
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October 20, 2014, 06:03:30 AM
