The Latin American country’s government has issued a bill to regulate its iGaming sector. Now it is seeking guidance about how to go about it.
The bill, dubbed MP-846, was passed at the end of July. It seeks to regulate online gambling. Brazil’s Economic Ministry has now opened up a consultation to seek guidance about how to fulfil its mandate. The consultation closes on August 31.
It is particularly interested in finding guidance about competition practices, regulatory models, the market size and standards, according to SBC News. The ministry is also looking into whether a concession or permit-based framework would suit the iGaming sector the best.
The first option would limit the number of available licenses to operate in the Brazil. To gain access under a concession regime, companies looking to break into Brazil’s online gambling market would have to pitch to the government to get a license.
Comparatively, a permit would be more open to any operator that meets the requirements set out by the government.
In other iGaming news, SuprNation, an online casino startup based on Malta, picked Gaming Innovation Group to help it with its compliance in the end of July. SuprNation is the company behind casino games Wild Reels, Book of Souls and Fruit Slot.
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