Brazil is edging closer to regulated gambling as the Ministry of Finance unveils a timeline for the sector's governance process. The latest development comes with the publication of SPA/MF No. 651, outlining the framework for gambling regulation in the country.
Under the phased implementation outlined in the management program, sports betting and online arcades will be introduced gradually, with regulatory measures set to unfold monthly until July. The establishment of the Regulatory Policy of the Secretariat of Prizes and Stakes (SPA) marks a pivotal step, as this new ministerial body will oversee the industry.
This regulatory endeavor represents the culmination of a protracted process aimed at formalizing betting and online gambling in Brazil. It follows the signing of a law by President Lula da Silva in January 2024, legalizing sports betting and gambling after undergoing numerous revisions and adjustments.
