## Chapter Twenty-One: Brazil’s Future – Oversight – iGB
In this installment of the Global Politics series, presenter Brandt Iden and Brendan Bussmann explore Brazil with Neil Montgomery, founder and managing partner of Montgomery & Associados, and Hugo Baungartner, VP of Global Markets at Aposta Ganha.
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Chapter Twenty-One: Brazil’s Future
But before that, our hosts review the most recent developments in Florida since Chapter Twenty.
In the last few weeks, West Flagler has submitted a request for a full court hearing. The court did not dismiss the request, but instead asked the Seminoles to reply by August 31st.
With so much bureaucracy, it’s widely believed that sports wagering in Florida won’t start anytime soon. However, the possibility of it launching during the upcoming NFL season is not impossible.
What’s in store for Brazil?
Meanwhile, in Brazil, Neil Montgomery says “anything is possible.”
The nation regulated sports wagering in July, with President Luiz Inácio Lula da Silva signing a temporary measure.
This officially implemented the sports betting rules approved by Law No. 13,756 of 2018. But Montgomery points out that these rules contain some “surprises,” including higher GGR taxes, more marketing limitations, and higher licensing fees.
These new rules are a step in the right direction, but not everyone is pleased with the results. Now, people hope for modifications in the Brazilian National Congress, where it needs approval to become permanent.
“We still face resistance from certain groups in society, certain groups in Congress,” Montgomery stated.
“There is a lot of activity happening in Brazil, but we need to observe what actually occurs.”
Despite any political tension surrounding sports betting in Brazil, Montgomery stated that progress is being made in implementing these regulations.
“Alongside discussions with federal law, some states and cities have taken the initiative and implemented their own products locally.”
For Hugo Baungartner – the first returning guest on the Political World series – the regulation of sports betting is a significant step forward for the nation.
“From my perspective… I believe this is a significant step forward for Brazil,” he said. “The provisional measure is a very, very positive development. It’s the initial step.”
Some progress has been achieved.
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