Brazilian Government forms work group to further regulate fixed-odds betting

The Interminsterial group will address mental health concerns.

The Brazilian f=Federal Government has created the Interministerial Working Group on Mental Health, Prevention and Harm Reduction of Problem Gambling. 

This is the next move toward regulating fixed-odds betting throughout the country and brings representatives of the ministries of Finance, Health, Sports and the Secretariat of Social Communication of the Presidency together.

The group was assembled to prioritize players’ mental health and to put “stricter rules for the operation of the sector” in place.

The Ministry of Finance said in a statement, “The focus is on developing strategies to prevent, mitigate harm, and offer support to individuals and communities affected by compulsive gambling practices or in vulnerable situations, considering the context of fixed-odds betting.

“The regulation of the fixed-odds betting market is not only a matter of economic control, but also of social protection. The disorderly growth of the sector has exposed challenges that are now beginning to be faced by concrete measures. By prioritizing the mental health and well-being of bettors, the Government makes a commitment to building a safer and more responsible environment.”

The country is scheduled to open both its legal and regulated sports betting and iGaming markets January 1

Brazil’s Ministry of Finance recently announced on its social media account that only authorized betting companies will be permitted to operate in the country.

This took effect October 1 and means that unauthorized sites will no longer be able to offer services to players throughout the region.

During the past few months, the country’s bet management system has received 121 applications for licensing.

Laura Mack

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