Legalization of Sports Betting in Brazil Faces Uncertain Future

There is no prospect of a sports betting market in Brazil any time soon.

Jair Bolsonaro did not sign the gambling bill, which was supposed to launch sports betting in Brazil in time for the 2022 World Cup in Qatar. New president Luiz Inácio Lula da Silva will take office on January 1, 2023. The bill on gambling will have to go through the legislative procedure again. It is highly uncertain when it will happen.

Brazil's latest elections brought further implications for the gambling market. Bolsonaro's party, the Liberal Party, won 14 seats in the Senate, while the new president's Party got 9 seats. The Liberal party is likely to thwart any attempts to legalize gambling in Brazil.