The leadership of Brazil’s ‘Secretariat of Bets and Prizes’ has still not been confirmed despite the launch of a nationwide online betting market looming on the horizon.
Fernando Haddad, Brazil’s Minister of Finance, is facing pressure to confirm who will head up the authority, which will be tasked with oversight of the regulated Brazilian market.
Tasks assigned to the Secretaria de Prêmios e Apostas (SPA) will include governance and enforcement of sports marketing requirements and integrity/anti-match fixing regulations.
The Ministry of Finance announced that it had completed plans to establish a ‘Special Secretariat’ to monitor and report on gambling activities back in February.
As detailed by the Ministry’s decree: “SPA will work within the Ministry of Finance to enhance its structure and improve government actions in regulating the fixed-odds betting market, online games, and fulfilling legal duties related to lotteries and commercial promotions.”
The long-awaited launch of a Brazilian online sports betting market, set to become one of the largest in the world, was confirmed by the government of President Lula da Silva in early January 2024.
However in the months since, the Brazilian Congress has become increasingly frustrated with the apparent lack of progress being made on the regulation of the ‘Bets’ framework, and Haddad is facing various political interests vying for influence over how the market is run.
The upcoming market launch is of great significance to a number of stakeholders in Brazil, including the government – which is eyeing increased tax revenue – but also, of course, betting operators and suppliers, and various sports organisations.
Betting taxation will see 36% of state revenues from the industry directed towards sports administrators and associations. Meanwhile, sports clubs will also benefit from betting sponsorship.
The SPA’s operations will be overseen by eight governors with specific responsibilities related to Brazil’s economic and financial governance.
Final procedures require the Ministry of Finance to name a President of SPA to lead a team of 38 experts supervising the marketplace.
