Parliamentary front supports betting regulation against illegal market

The parliamentary front for Free Market (FPLM) positioned itself in favor of regulating bets proposed by the federal government. According to the group, the lack of adequate regulation can stimulate the growth of the illegal market.

“The lack of regulation favors the illegal market, impedes the healthy growth of the sector and leaves citizens, especially the most vulnerable, unprotected”, said the president of the FPLM, federal deputy Luiz Philippe de Orleans e Bragança (PL/SP), in note sent to People’s Gazettethis Wednesday (2).

“The sector, when well regulated, can generate significant economic advances, respecting consumers’ freedom of choice and guaranteeing a competitive market”, he added.

For Rodrigo Marinho, executive director of Instituto Livre Mercado, which would secrete the FPLM, banning betting is not a solution, as it would push the sector into the illegal market, without state control or transparency for consumers.

“Illegality only worsens the problems and removes any type of legal security for bettors and companies operating in this sector,” said Marinho.

In the note, FPLM also said it believes that responsible regulation will allow Brazil to take advantage of the economic benefits generated by this market.

“In countries like the United Kingdom and Italy, betting regulation is already an established reality”, says another excerpt from the note.

Government released a list of bets authorized in the country

On Tuesday night (1), the Secretariat of Prizes and Bets (SPA), linked to the Ministry of Finance, released the list of bets authorized to operate legally in Brazil.

The list of authorized companies is available in the Betting Management System (Sigap). In all, 193 websites linked to 88 companies were authorized of betting in the country.

Companies that do not appear on the Treasury list can no longer operate betting in Brazil, until they obtain authorization from the government.