Brazil is in plans to issue only 30 sports betting licenses. There are apprehensions of a cutthroat bidding process; operators will exhaust all their options to acquire the license to operate in the nation having the largest population in Latin America.

The Secretary of Public Policy, Planning, Energy and Lottery (SECAP) in Brazil’s Ministry of Economy announced this week that they plan to conduct the third round of public consultation concerning government’s plans to manage online and offline sports betting. Suggestions are being accepted till March 6 through email.

The previous consultations of SECAP culminated in the decision to issue around 50-60 betting licenses to competent applicants. Later on, this was changed to a restricted “public concession model” on the suggestions by the Attorney General’s Office of the National Treasury (PGFN). The PGFN was of the view that limited licensees would grant the regulators greater ability to ensure and monitor that the rules are being adhered and punish anybody who flouted the rules.

SECAP issued details of its new policies that state its desire to give out “an optimum number of 30” licenses. Candidates interested in applying for the license will have to submit the following documents:

• Bid guarantee
• A written economic proposal
• Documents confirming their qualifications

SECAP, based on the submissions, will deliberate and then announce its decision. Losing candidates have the right to appeal if they are not satisfied with the decision of the committee.

The whole process of submission until the declaration of decision is estimated to take around six months. In case the maximum number of licenses that can be issued is not exhausted in the first round, then the process will be again initiated after an interval of six months, till all the licenses have been issued.

https://www.timesofcasino.com/brazil-limits-sports-betting-licenses-to-30-tough-competition-to-ensue/