Brazil President Signs Sports Betting Into Law

President Michel Temer has added his signature to a bill authorizing fixed-odds sports betting as an approved lottery game, starting the clock on a two-year period for critical policy questions to be answered via implementing regulations.

Bill MPV 846/2018 was signed into law by Temer on Wednesday, three weeks after the legislation was quickly approved by Brazil’s Congress and meeting the December 12 deadline for the outgoing President to act on it.

The bill, first proposed by Temer in August to reallocate revenues from approved lottery products to fund specific causes, was amended in Congress with an extra section to expressly authorize both online and retail fixed-odds betting in Brazil for the first time.

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