Brazil Sees Arrival of State-Level Sports Betting

Brazil’s federal government continues to drag its feet on a nationwide effort to introduce regulated sports betting and lottery offerings. This has led to states like Rio de Janeiro taking matters into their own hands, and Minas Gerais is now joining the group. Minas Gerais, the second-largest state in terms of population, foresees gross revenue of BRL5 billion (US$961 million) over the next 20 years through new betting and lottery products. As a result, it isn’t willing to wait on the federal government to act on legislation.
 
Back
Top