Change is coming for online sports betting in Brazil.
Since the 2018 legalization of sports betting in Brazil, the market has opened up fantastic prospects for seasoned gambling operators to flourish and upcoming gambling operators like ONWIN to break ground, especially in the digital space.
The National Congress has begun debates around the regulation of gaming and betting in the country, as the sector is anticipated to generate at least R$12 billion in 2023 alone.
The Latin American country is not the only one looking at its regulations when it comes to gambling.
In the United Kingdom, new rules ensuring online gambling businesses do more to identify and take action to protect consumers at risk of harm have been introduced by the Gambling Commission.
The State of Things
Fernando Haddad, Brazil’s Minister of Finance, is presenting ground-breaking legislation that will finally establish a legal sports betting sector for the nation.
The purpose of the law, which is currently being forwarded to the committee stage, is to make up for the loss of tax revenue that resulted from freshly elected Brazilian President Lula da Silva’s decision to increase the minimum tax rate in the nation.
Haddad disclosed his plans to legalize online sports betting companies in the most populous nation and biggest economy in Latin America in an interview with the Brazilian media a few weeks ago, when news of the impending sports betting legislation first surfaced.
As reported by numerous Brazilian media sites, the bill’s current draft solely aims to control online sports betting, which is thought to account for the great majority of wagering activity in sports-crazy Brazil. Still, Congress is expected to talk about internet gambling in the future.
ONWIN: Ticking All The Right Box
Outside of the need to ensure that operators pay the necessary dues to respective governments, the issue of consumer protection is also a hot topic. Betting sites and their operators are expected to identify and tackle gambling threats quickly and carry out effective actions to tackle such harm.
Sportsbooks that fail at this often come under regulators’ fire; a case in point is the recent fine of UK betting site William Hill for gambling failures. This is why ONWIN, a modern betting website, is taking no chances and ticking all regulatory requirements.
The platform clearly outlines how serious it is about anti-money laundering, privacy, its KYC policy, and more.
The sports betting platform is well-supported by its professional customer support team, which is available 24/7 via phone, live chat, and email to tackle any issue that may come up quickly.
It is also crypto-friendly, so one can easily use Bitcoin tokens and altcoins to play. It offers exclusive industry-leading bonuses for new deposits and registrations, including a 100% bonus on all cryptocurrency deposits and a R$25 registration bonus that is added to your account.
Final Thoughts
There are thought to be 450 active gaming and sports betting platforms in Brazil, most of which are foreign firms that operate outside of Brazilian law. To ensure one isn’t affected by the coming change, it is better to pitch your tent on platforms that have strong law-abiding policies and are constantly adapting to any regulatory update.
For more information, check out ONWIN’s website:
Website: https://www.onwin.com/
Telegram: https://t.me/on_win
Twitter: https://twitter.com/_OnWin_