Brazil is expected to finally have a regulated sports betting market in 2024, following the approval of Bill 3,626/2023 by the chamber of deputies in December.
Advertising regulations for sports betting in Brazil are still a contentious issue, with Bill 3,405/2023 seeking to prohibit the use of celebrities in marketing campaigns.
Similar advertising bans have been implemented in other countries such as Canada, France, Belgium, the Netherlands, Germany, and Italy.
The next steps in Brazil’s sports betting journey include the publishing of regulatory guidelines by the Ministry of Finance and the application process for interested operators.
It is expected that a regulated market will be operating in Brazil by the second half of 2024.
