Home NewsCasino Caesars-licensee BIG Brazil nearing lottery accreditation in Rio de Janeiro

Caesars-licensee BIG Brazil nearing lottery accreditation in Rio de Janeiro

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BIG Brasil, the licensee for Caesars Sportsbook has announced that it is looking to become accredited with Rio de Janeiro State Lottery.

Andre Feldman visited Hazenclever Lopes Cancado, Loterj’s president, on Thursday. Feldman, who expressed his desire to operate sports betting in Brazil with Caesars, also asked for information about becoming a Loterj accredited agent in Rio de Janeiro.

BIG Brazil International Games and Caesars will partner in February 2023 to launch sports betting when it is legalised. Sports betting will be legalized in Brazil by the end of 2024 after Bill 3,626/2023, which was passed last December.

Feldman stated that expectations are high. We intend to launch the Caesars Sportbook in Brazil starting with Rio de Janeiro. “We are already composing the necessary technical documentation in order to officially receive the Loterj certification within the next few weeks.”

Cancado said: “We’re very pleased with the decision made by Caesars Group to invest in Rio de Janeiro.

Caesars is the latest company to move into Brazil

Sports betting is not yet legal in Brazil, but a few betting companies are making moves to enter the country.

NeoGames, Intralot do Brasil and Intralot do Brasil will launch LotoMinas in February 2023. This was the first online betting and ilottery solution for Minas Gerais, Brazil’s official lottery Loteria Mineira.

Loterj was the first Brazilian state lottery to offer sports betting. In June 2023 it awarded a 5-year contract to Sao Paolo’s Rede Loto. It will be able to provide online sports betting in Brazil in advance of federal regulations.

OpenBet, a sportsbook software provider, teamed with Play7.Bet in September to supply technology for its online and retail sports betting offerings in Brazil.

In Brazil, operators have been heavily involved in sports sponsorship. Flutter Entertainment’s Betfair, for example, entered into a partnership Cruzeiro, the Brazilian football team.

Blaze, Parimatch and Atletico Clube Goianiense have also announced sponsorships for Brazilian football teams.

Brazil’s gambling journey

It has not been an easy road to get legalized sports betting in Brazil. It does appear that it is finally in its final phase.

The Brazilian Chamber of Deputies approved Bill 3,626/2023 on December 21st, regulating sports betting.

The bill also includes igaming, which was removed from the original version by the Senate.

The bill was signed into law by President Luiz inacio Lula Da Silva on the 30th of December. The bill ratified the new regulation framework for sports gambling and online gaming.

In 2024, will there be gambling in Brazil?

Some are apprehensive about how smoothly the legalization of sports betting in Brazil will proceed, given the winding journey that has led to this point.

Neil Montgomery, the founder and managing director of the Brazilian law firm Montgomery & Associados believes that regulation will be completed by 2024.

Montgomery, iGB, said that it was more likely than not for Brazil to have a regulated marketplace in operation by 2024’s second half, given the necessity of the Ministry of Finance issuing a series of administrative standards further regulating different topics covered under the Bill of Law. These will also be put up to public consultation prior to their becoming effective.

Brazilian regulators have a few issues left to resolve. Advertising is one of these issues. In 2024, the Brazilian senate is expected to include a potential ban on celebrities appearing in gambling advertising.

The bill 3,405/2023 aims to prohibit celebrities from appearing in advertising for sports betting. Senator Eduardo Girao has been fighting gambling in Brazil for many years. He presented amendements that ban any person who is considered influential from being involved in marketing gambling.

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