A “Request for Information” has been published by the Brazilian National Bank for Economic and Social Development (BNDES) calling on consultants and specialist organisations to contribute to the “Fixed Odds Lottery Project (Sports Betting) Structuring.”
Through this call, the Brazilian Government intends to facilitate the process of contracting technical services, approved by Federal Law 13,746/2018, to structure the sports betting concession/authorisation project. The Ministry of Economy will disclose the size of the investment, the number of licenses, the validity and the specifics of the concession model as soon as the government takes this measure.
As stated by BNL Data, the move was undertaken by Decree 10.467/2020 in alliance with the Secretariat of Evaluation, Planning, Energy and Lottery (SECAP), which falls under the Ministry of Economy. In order to shape the project, the “Request for Information” seeks to define which businesses function in the sector.
Brazil will structure the economic-financial model for the privatisation schemes, the lottery and sports betting ventures and the people who will take care of the legal advice for the concessions, based on the consultants and experts elected for this initiative.
At the end of 2020, SECAP predicted that the industry will be completely operational by July 2021. This call for the involvement of consultants and specialist companies in the “Request for Information” is part of the necessary steps to eventually become a reality in Brazil for the sports betting industry.