Brazilian Government Closes Betting Sites аmid New Regulations
The Brazilian government has issued a statement that gaming authorities in the country have started the process of closing down more than 2,000 illegal gaming websites, as the government starts to introduce new regulations in the gambling industry.
The Brazilian government closes over 2,000 betting websites in regulation shakeup.
LISTEN TO THIS ARTICLE:Brazil is in the process of creating a new gaming legislation framework that will come into effect next year and this move can be seen as the authorities laying the groundwork for the introduction of these new rules.
It is widely acknowledged that the gambling legislation of 2018 has been ineffective and the government in the country says it is determined to introduce legislation that will prevent fraud and money laundering in the gaming industry while creating a safe environment that protects gamblers in the region.
Anyone who is not regularized, or in the process of being regularized, is being taken off the air.
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More than 90 tier 1 gaming operators have been pre-approved to receive gaming licenses under the new gambling framework which is to be introduced next year. These operators collectively operate approximately 200 gaming websites in the region and these have been given permission to remain as they have signed up to the new regulations.
The Brazilian government has outlined several reasons why the authority is introducing new regulations in the gambling industry. One of the main reasons to set up new gambling legislation is to generate revenue for the community from gambling activities within Brazil.
Furthermore regulation of the gaming industry will allow the government to introduce responsible gaming policies that create a safe gambling environment for individuals who are at risk from gambling-related harm.
The Brazilian president stated there may be an introduction of rules over sponsorship and advertising restrictions relating to gambling companies. This has led to some sports clubs raising concerns over the loss of revenue they may suffer because they have commercial relationships with gaming operators.
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