Governments recognizing the benefits of regulating online sports betting

Sports betting is becoming more popular than ever with the regulation of online betting being enacted in many emerging markets around the world.

How regulation can benefit betting companies and players

Brazil is one such country that has recognized the opportunities of regulating the online gambling sector. A regulated gambling industry can be beneficial for Brazil from an economic perspective as the legalized status of betting removes the threat of legal limbo and this will allow companies to invest in their products and innovations. Further economic benefits include sponsorship between soccer clubs in the Brazilian league and betting companies.

The tax advantages of regulation for the government are illustrated by the increase in revenue in the gambling sector in Brazil, which has grown from R$2 billion in 2018 to R$7 billion in 2020. The period has also witnessed an increase in betting-related search terms, further highlighting the growth of gambling in Brazil. The popularity of online sports betting increases the requirement for the Brazilian government to regulate the sector in order to collect revenue from legalized gambling operators.

Brazil’s long overdue World Cup honors

The next two months are expected to be a busy time for sports betting in Brazil. The Seleção last won the World Cup twenty years ago when they beat Germany 2-0 with goals from legendary striker Ronaldo, but this year Brazil is the favorite to win the 2022 World Cup in Qatar, so interest in the tournament is sure to be at fever pitch. Fortunately, sites such as sitedeapostasonline.net are able to provide expert guidance with information about approved betting sites. Bet365, one of the online betting companies Brazilians are able to use, have priced Brazil at +400 to get their hands on the most sought-after trophy in the world of soccer, while they have priced star forward Neymar of Paris St. Germain at +1400 to top the World Cup scoring charts.

The World Cup, which fans can follow via fifa.com, also provides online sports betting companies with the ideal opportunity to promote their offerings through their presence at large sporting events, social media promotions, and adverts, along with television advertisements.

The approval of Bill 442/91 in the Brazil Chamber of Deputies this year, comes at the perfect time for the online gambling sector as it paves the way for the legalization of online sports betting and casinos, which will also provide advantages to players as they can benefit from greater security as regulation would involve betting companies requiring licenses in order to operate in Brazil. Therefore, players can be assured that gambling companies are legal and are able to meet strict governmental requirements. Players can also benefit from a range of other advantages offered by online betting operators such as quick online withdrawals, round-the-clock support, and bonus offers, which are explained in detail on our site gamblecritic.com. 

A sports betting boom in the United States

It is not only emerging markets where sports betting is reaping the rewards of state regulation. Sports betting has experienced a boom in the United States since a number of states, including Nevada, New Jersey, and Michigan began legalizing sports betting in 2018. New York legalized online sports betting in January 2022 and bettors set a record with $1.6 billion taken in bets in a single month. As the NFL is well underway, with the latest news of the sport available at nfl.com, the revenue is likely to increase further. Governments and states around the world are now recognizing the financial benefits of legalizing online sports betting and it is only a matter of time before further countries follow suit and regulate online gambling.

As online sports betting continues to grow in Brazil, it is expected that regulation of the sector will attract an increased number of sports betting companies with benefits felt by players through increased choice, while governments will be able to raise much-needed revenue from the sector.