Betting Sponsors Get Allowed In Brazil
Update: Outgoing Brazil president Michel Temer has approved the legalization of sport betting in Brazil yesterday. This means that he will soon see betting sponsors on the kit of Brazilian teams. Thanks to Brazilian website Mantos de Futebol for the information.
Last Wednesday, a new law was enacted in Brazil that legalized sports betting in Brazil. This will allow betting companies to advertise on the shirts of Brazilian teams, something that was not possible before.
Betting Sponsors To Feature Soon On Kits Of Brazilian Teams
Sport betting sponsors heavily dominate the market in countries such as Great Britain, where more than half of the teams have betting jersey sponsors.
The Brazil Ministry of Finance has a period of two years (expendable by two more) to regulate the betting activity and will also have the responsibility to authorize and grant the lotteries of bets. What is collected from sports betting will be allocated to the payment of the prize to the player, social security, the National Fund for Public Security, education and football clubs.
In addition to the advertising on the shirts, some clubs have had the idea of housing casinos in their stadiums. In the past, Corinthians has already considered having a casino in the Corinthians Arena, but the impossibility due to the postponement of the vote on the law, caused the club to give up the idea.
The news from Brazil comes at a time where sports betting advertising restriction and legalization have become a big topic. In Italy, sports betting will be prohibited from January 1st 2019, with teams not able to sign new contracts from then. In the USA, the US Supreme Court federally legalized sports betting in the United States.
What do you think about the release of betting sites on Brazilian teams' shirts?
