Outgoing Brazilian President Michel Temer, signed in to law Brazil Sport betting legislature on Wednesday. This will open the door for gambling on sports the country, allow international sports gambling companies to move and operate freely in accordance to the law.
Brazil’s law allowed for the lottery – the addition of online and land-based fixed odds sports betting is the first in the country’s history. The change in legislation could be the last one for the ongoing President, as President elect Jair Bolsonaro will take office next year.
This legislature is expected to bring in a lot of gaming revenue for a number of governmental departments, and was praised by President Temer, as being great for the Brazilian people. There is more broad legislation on gambling, however they are being held back by various religious groups, victims of stakeholder squabbles as well as numerous corruption scandals.