Thursday April 17,2014 : BRAZIL SET TO FORMALISE LAWS ON INTERNET GAMBLING?
Restrictions are likely following new policy draft.
The Brazilian government's latest policy drafts on the use of the internet and how it should be regulated appears to favour a more restrictive approach when it comes to online gambling.
Whilst current law does not sanction online gambling, betting companies have thus far managed to exploit a loophole that requires operators to hold licensing from the jurisdiction from whence they operate.
This has been used by operators licensed in jurisdictions like Malta and Gibraltar to offer gambling services to Brazilians.
Under the proposed changes, that could be about to change; the draft seeks to clarify the laws more precisely, along with providing an enforcement framework that could include financial transaction and ISP-blocking provisions and specific restrictions on external operators.
A sense of urgency has been imparted to the proposal due to the FIFA World Cup competition in June this year, which Brazil is to host.