Brazil will require sports betting companies operating in the country to also be headquartered in Brazil, in addition to creating oversight mechanisms to prevent fraud and manipulation of match results, its finance ministry said.

According to Felipe Pereira, sports betting expert and editor of bonusdeapostas.com, this final push towards regulated sports betting will result in significant changes to the gambling landscape in the country. 

With a sports betting license stated to cost operators R$30m (£4.91m/$6.1m/£5.7m) for a five year period, and tax revenue at 16%, Pereira questions the effects of these measures once applied: “How many operators is the Government expecting to apply.

The long-awaited launch of regulated sports betting in the emerging Brazilian market is expected to be formalized within the next couple of months.