Betting to aid Brazil COVID-19 recovery

Brazil wants to raise $7.33 billion to address key areas in the economy and help them restore normality. With sports betting and online gambling in Brazil a hotly debated topic and still pending official legalisation, the activities may prove an important source of revenue for the public purse.

The measure is expected to delay the launch of the regulated sports betting market throwing another spanner’s in the works of otherwise well-planned regulatory effort. Brazil was intent to introduce a sports betting framework earlier this year but since the COVID-19 outbreak struck in February the plan has been deferred to some point in mid-2020.

Brazil has ties with sports betting, with much of the activities taking places illegally. However, the country now wants to bring a lucrative sector, worth billions, into the light. Some sports clubs have already started signing partnership with operators.

One noteworthy alliance has been forged between Brazilian FC Flamengo and Sportsbet.io, one of the most prominent sports betting platforms powered by the blockchain and licensed in Curacao.

Sportsbet.io is just one of the sportsbooks to register and operate a product that disrupts the industry in a bid to create better opportunities for punters. The bookmaker also sponsors Watford FC, who will be back in action this week. The pair had a tournament coming up but the outbreak had to disrupt it.

It’s also worth noting that many crypto casinos have localised versions for the Portuguese-speaking market, including Bitcasino.io and 1xBit.

Today, you can visit Sportsbet.io and benefit from various promotions and incentives to play a sports betting bonus.

Looking for your next crypto casino? Check out Mega Dice or FortuneJack!

Written by Roman

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Roman is a big crypto enthusiast and a bigger sports fan, so crypto sports betting comes as a major interest for him. Has been involved with the gambling industry since 2017 and sees crypto as a major breakthrough for the payments side, specially beyond first world countries.

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