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Introduction
The world of sports betting has been revolutionized in Brazil, as the government has legalized online sports betting, opening up 💶 new opportunities for businesses and individuals alike. The landscape of sports betting in Brazil has evolved since the legalization of 💶 the activity in 2024, and this article will explore the evolution of sports betting, the current market, and the potential 💶 benefits and risks associated with this industry.
Background
In December 2024, Brazil's President, Luiz Incio Lula da Silva, signed a law that 💶 legalized online sports betting in Brazil. This law, known as Lei 14.790/23, allowed private companies to operate sports betting online 💶 and in physical establishments, such as casinos and betting houses. The law was enacted to regulate the sports betting market, 💶 which had previously been dominated by illegal operators.
The Immediate Impact