According to estimates, sports betting in Brazil will generate about R$12 billion (US$2.34 billion) this year, and more than 36 million people will visit Brazilian betting sites.
According to the Ministry of Finance, Brazil will require sports betting operators operating in the country also to have their headquarters in Brazil.
Regulatory mechanisms will also be implemented to curb fraud and manipulation of gambling results.
A law passed in 2018 allowed betting operators to operate in South America’s largest country, and they have since surged in popularity, but the government says lax regulation has allowed the business . . .