Part 1: Setting the scene
The Brazilian government
may initially opt for
limited licences as they
‘would like to see how it
goes first’
Maximiliano De Muro
Poker
Poker has been recognised in the
courts in Brazil as a game of chance
and therefore is not subject to
legislation, meaning operators are
allowed to advertise. The country
has always been a strong market
for the likes of PokerStars and 888,
both which will doubtless be hoping
to leverage their brand positioning
in sports. There are two large poker
tournaments that take place in
Brazil: the WSOP Brazil and the
Brazilian Series of Poker. Poker has
also been recognised as a sport.
Based on the liberal
approach of the current
government office I
personally expect an
unlimited number of
licences, founded on
a set of restrictive
regulatory requirements
Andre Gelfi, Suaposta
6
Framing the sports
betting opportunity
Having passed the first stage, the
various stakeholders now await the
outcome of the two-year framing
process. The bill states that it should
be a “competitive environment”
but goes no further in outlining
what is envisioned. As the Morgan
Stanley team notes, this might imply
BRAZIL The regulated opportunity in Latam’s largest market
an open licensing process, with a
potentially unlimited number of
licensees, or the government might
simply opt for a single licence via
the lottery concession.
Luiz Felipe Maia, a lawyer at
Brazilian firm FYMSA Advogados,
says he doesn’t think that a limiting
of the number of licences would be
of benefit to anyone.
“By limiting the number of
licences, we will only be creating
excuses for unlicensed operators
to continue operating offshore.
Regulation must create the
necessary conditions to attract all
operators willing to invest in our
country and to comply with our
rules, which will set the highest
standards based on international
best practices.
“I really believe we will have an
open number of licensees and let
the market define the ideal number
of companies.”
Maia’s expectations are shared by
the managing director of Suaposta,