What will the election mean for betting in Brazil?

The elections in Brazil have further delayed the Senate's decision on approving gambling in the country. The focus of the presidential candidates, including the current president Jair Bolsonaro, and parliamentarians revolves around the expectation of who will be the next leader of the country.

The confirmation of a second round of elections to decide the presidency for the next four years has further compromised the approval of regulations for betting in the country. This impact is even greater in the context of a World Cup year, where sports betting would certainly boost the betting market, especially with the Brazilian national team among the favorites to win the title!

The alternative is an old acquaintance of Brazilians: online betting! https://betting.com/pt/ We are already prepared to update bettors on everything happening in the context of sports betting. Even though it's a legal way to bet, Brazilians still yearn for the legalization of gambling in the country, which is unlikely to happen this year. So don't miss the opportunities offered online!

What to expect from the second round of the presidential election

The attention of Brazilians and politicians currently in office is focused on the second round of the presidential elections. In other words, all of Brazil is anxiously awaiting the... clash between current president Jair Bolsonaro and former president Luiz Inácio Lula da Silva. Meanwhile, gaming industry executives are hoping that, with the elections over, some measures may still be approved, especially regarding the regulation of fixed-odds betting, known as sports betting.

Investors also believe that political and religious ties are hindering the approval of new legislation as soon as possible, and that this would lessen after the elections. This would increase the likelihood of the approval of provisional measures and other administrative sanctions that impede the regulation of betting.

October, November, or December?

Those interested in the gaming sector believe that the processing of Bill 442/91 will resume this year, given the public budget. longs for resources generated by these activities. Even with some market optimism about the vote taking place in the coming months, the composition of the senate still worries investors. This is because the current president is openly against the approval of gambling in the country, and his political party won 99 seats in the Chamber of Deputies and 8 in the senate.

Nevertheless, it is expected that the legislative bodies will adopt a proactive, non-exclusive stance regarding Bill 442/91. This means that the most favorable scenario for the legalization of gambling would be one in which the Senate votes on the bill before the end of the year. In other words, with the new executive composition defined for 2023, the working group designated for the Regulatory Framework for Gambling will have a lot of work ahead to convince the new Senate caucus to vote in favor of the sector if the vote takes place in 2023.