Digital sports betting company Betcris has officially launched a Brazilian-facing website at a time when it is still waiting for the country to finalize the process of legalization of its regulated betting regime.
On November 26th, Betcris revealed the release of its br.betcris.com domain – a website in Portuguese that is targeting Brazilian customers, offering them a variety of casino and sports betting options. The company further noted that the website users will also be able to access the special Betcris Arena loyalty program. The Brazilian football star and a brand ambassador for the company Ronaldinho is promoting the new online gambling website.
As explained by the company itself, Betcris has made its Latin American operations a priority, as part of its efforts to establish a strong presence in the local gambling sector. This summer, the company signed an official betting partnership agreement with the Major League Baseball and the National Football League, especially for the Latin American markets. Still, this spring the boss of the company, JD Duarte, described Brazil as the top priority of the Betcris, which inked a sponsorship agreement with Campeonato Brasileiro Serie A.
Brazil’s Federal Government Still Has Not Decided How to Regulate the Gambling Sector
Beyond any doubt, Brazil, which has a population of approximately 213 million people is a great expansion target for sports betting companies such as Betcris. The country officially approved its betting legislation a couple of years ago but ever since then, it has been very slow on choosing the best licensing model for its gambling market. It is also expected to unveil all the necessary regulations.
The coronavirus pandemic has made things more complicated for the country, but the Government remains more focused on the issue of whether to give the green light to land-based casinos, which could turn out to be a much more significant contributor of fresh money to the state budget than sports betting. If the local Government continues to hesitate about that, individual states across the country may opt for taking the lead.
The recent ruling of the country’s Supreme Court may have created an opportunity for Brazil’s Union government to pass laws to authorize and regulate lottery operations, while individual states were provided with the chance to launch lotteries within their borders.
According to some analysts, since betting has been categorized as a lottery product under Brazil’s legislation, the Supreme Court’s ruling might provide individual states across the country with the right to authorize lotteries that offer betting services alongside their regular lottery products. For the time being, this option has not moved forward, but if the Federal Government remains hesitant, it could be considered by the states.
On the other hand, Brazilian residents do not suffer from a lack of options when it comes to online gambling. There are multiple internationally licensed betting websites that currently target the local market, with more than 60% of the top two tiers of Brazilian football having some form of gambling sponsorship.