After years of delays, sports betting is now legal in Brazil after president Luiz Incio Lula da Silva signed the Provisional Measure (PM) implementing the 2024 law.
Betfair is a British gambling company founded in 2000. It operates the world's largest online betting exchange. Its product offering also includes sports betting, online casino, online poker, and online bingo.
Favorite sports among Brazilian bettors 2024\n\n Soccer was by far the most popular sport to bet on in Brazil, according to a survey conducted among gamblers in early 2024. Overall, eight out of ten survey participants in the Latin American country reported betting on that sport.
Sports betting in Brazil will be privatized by the country after the proposed decree by the Ministry of Economy was signed into law in August by President Jair Bolsonaro. Expectation now is that the legalization will be complete and launch in 2024.