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Once Brazil's new sports betting and igaming regulatory framework is adopted, the country will establish a nationwide sports betting marketplace.
Lula, Brazil's president, signed Bill PL3626/23 into law on December 30 following a 21st-of-December vote by the Chamber of Deputies to support the measure.
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About time.
Also, soccer games are gonna get crazier with all the new action there,
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do we know if there are limits on wagering? or will they have less restrictions that some US markets where college betting has limits and such?
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Although the Brazil sports betting bill was signed into law last December 2023, the Ministry of Finance still hasn't completed the rules and regulations for online sportsbooks and casinos. Thus, we still don't know about restrictions and wagering limits.
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I wonder if they will use this to boost tourism as well with brick and mortar facilities?
As far as I know, casinos are illegal in Brazil. Only sports betting and horse racing are legal in the country. They also have a state-run lottery. They have old casino structures but they only offer poker, which is said to be a skill game. Thus, it is legal in the country.
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