Part 3: The online sports betting opportunity
The Brazilian market is
more attractive than the
US, because all licences
will be issued [at] the
Federal level, while there
you have to go state-by-
state, with different rules,
standards and also with
the complication of the
Wire Act
Luiz Felipe Maia,
FYMSA Advogados
The positive thing is that
Brazil is going for one
set of legislation for the
whole country, contrary
to what is happening in
Argentina for instance
Alberto Alfieri,
Bet Entertainment Technologies
16
Maia from FYMA Advogados
points to the coincidence of timing
with the US opening up to sports
betting and suggests operators
would be missing a trick if they
didn’t get excited about Brazil.
“I always say that the Brazilian
market is much more attractive than
the US, because here all licences will
be issued [at] the Federal level, while
there you have to go state-by-state,
with different rules, standards and
also with the complication of the
Wire Act,” he says.
“Here in Brazil we will have a
single national market with only one
standard, a very modern set of rules,
BRAZIL The regulated opportunity in Latam’s largest market
for a market of 210 million people,
crazy about sports and highly
connected [92% of economically
active adults have smartphones].”
Alfieri at BetCorporate agrees.
“The opportunity is big if you
consider the size of the market
alongside the growth of the
Brazilian economy”, he says. “The
positive thing is that Brazil is going
for one set of legislation for the
whole country, contrary to what is
happening in Argentina for instance.”
As we shall see in the next
section, such optimism is justified
considering the success of certain
brands in the offshore space.