A significant stride toward the expansion of the betting industry has been taken within Rio de Janeiro as BIG Brazil International Games, represented by President André Feldman, initiated dialogue with state lottery operator Loterj. Feldman’s meeting with Loterj president Hazenclever Lopes Cançado on Thursday signified a clear intention: BIG Brazil, in partnership with renowned gaming powerhouse Caesars, aims to delve into sports betting operations and is now eyeing to attain accreditation to host lottery games within Rio de Janeiro.
BIG Brazil’s partnership with Caesars was formally established in February 2023, setting the stage for introducing sports betting into the Brazilian market, pending legal authorization. This development followed the passage of Bill 3,626/2023 in December, paving the way for sports betting regulations to be solidified by the latter part of 2024.
Feldman exuded optimism regarding the venture, stating, “Expectations are high. We intend to enter the Caesars Sportsbook brand in Brazil, starting in Rio de Janeiro. We are already working on composing all the technical documentation to, in the next few days, officially enter into the Loterj accreditation.”
Loterj president Cançado reciprocated the enthusiasm, welcoming the investment from Caesars Group and BIG Brazil into Rio’s burgeoning betting market.
Despite the current legality of sports betting in Brazil waiting on regulatory frameworks, numerous companies have not hesitated to maneuver into the Brazilian domain. For instance, NeoGames and Intralot do Brasil announced the February 2023 launch of LotoMinas, the first regulated ilottery and online sports betting platform for Minas Gerais’ official lottery, Loteria Mineira.
Loterj’s pioneering efforts saw them become the first state lottery in Brazil to hold a tender for sports betting as early as June 2023. The successful five-year tender was awarded to São Paulo-based Rede Loto, setting them up to offer online sports wagering in anticipation of federal regulation.
September also witnessed a key alliance between sportsbook technology provider OpenBet and Play7.Bet, signifying OpenBet’s entry into the Brazilian realm, tasked with empowering Play7.Bet’s both retail and digital sports betting capabilities.
Operator strategies in Brazil have been notably marked by sports sponsorships. A highlight has been Betfair, owned by Flutter Entertainment, forging a collaboration with Brazilian football team Cruzeiro. Additional companies like Blaze and Parimatch have been proactive in securing shirt sponsorships with Atlético Clube Goianiense and Botafogo, respectively.
The trajectory of legal sports betting within Brazil has been tumultuous, but progress seems to be inching towards the finish line. On December 21, Brazil’s chamber of deputies cast their vote to approve Bill 3,626/2023, setting up regulations for sports betting, with igaming also incorporated after being previously excluded by the senate. Shortly thereafter, President Luiz Inacio Lula da Silva signed the bill on December 30, instituting a new regulatory framework.
However, not all are convinced of smooth sailing ahead. Neil Montgomery, founding partner of law firm Montgomery & Associados, cautiously projects the regulation of sports betting to cross the finish line in the second half of 2024 due to necessary bureaucratic processes, including public consultations.
Within the to-dos for Brazilian regulators, advertising remains a contentious topic. A proposed ban on the use of celebrities in betting advertising looms, with potential legislative action scheduled for the senate’s 2024 agenda. Bill 3,405/2023, presented by Senator Eduardo Girao, aims to eliminate the influence of celebrities in gambling marketing.
As Rio de Janeiro prepares for an invigorated betting landscape, the impending accreditation of BIG Brazil International Games and the anticipated cooperation with Caesars are set to mark a new epoch for gaming enthusiasts in Brazil. With global and local operators positioning themselves strategically, the future of betting in Brazil seems not only bright but also imminent.
