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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 2️⃣ new opportunities for businesses and individuals alike. The landscape of sports betting in Brazil has evolved since the legalization of 2️⃣ the activity in 2024, and this article will explore the evolution of sports betting, the current market, and the potential 2️⃣ benefits and risks associated with this industry.

Background

In December 2024, Brazil's President, Luiz Incio Lula da Silva, signed a law that 2️⃣ legalized online sports betting in Brazil. This law, known as Lei 14.790/23, allowed private companies to operate sports betting online 2️⃣ and in physical establishments, such as casinos and betting houses. The law was enacted to regulate the sports betting market, 2️⃣ which had previously been dominated by illegal operators.

The Immediate Impact