The Brazilian government has appointed Giovanni Rocco Neto as the inaugural National Secretary of Sports Betting for the Economic Development of Sport. He will be responsible for coordinating and overseeing the economic advancement of sports in Brazil.
In assuming this role, Neto emphasised the importance of recognising sports betting as a form of entertainment rather than a primary income source, stating, "This perspective is crucial for preserving the integrity of Brazilian betting."
Before this position, Neto worked as an advisor in the Ministry of Sports, where he led the Committee on Integrity, Rights, and Responsibilities in Betting and Gaming. He will report directly to Sports Minister André Fufuka, who was instrumental in creating this role.
Fufuka highlighted the significance of this appointment, stating, "Our goal is to establish a transparent and well-regulated environment that fosters both economic development and ethical practices in Brazilian sports." The government anticipates that the launch of a regulated sports betting market could generate approximately R$2 billion (€400 million) annually in tax revenue, which will be allocated to social programs, sports development, and public safety initiatives.
