Brazil’s sports betting laws outlined

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According to news stream Fantini, details of the proposed sports betting laws for Brazil have been released, indicating that there would be no limit to the number of operators.

The licence would cost $4.5m and would be valid for five years. Candidates would have to be based in Brazil, including foreign companies with a branch, and have sufficient capital to support operations.

The market would be controlled by the country’s Ministry of Economy. If there are no changes, then the bill would be signed into law on May 10.

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