BRAZILIAN PRESIDENT NIXES LEGALISED SPORTS BETTING

Thursday August 13,2015 : BRAZILIAN PRESIDENT NIXES LEGALISED SPORTS BETTING
 
Sports betting among 36 clauses vetoed by Rousseff.
 
Brazilian president Dilma Rousseff has killed off an attempt to legalise sports betting in Brazil, vetoing 36 clauses before signing a bill which had been approved by the Senate.
 
The bill contained provisions for the creation of two new lotteries, including the country’s first legal fixed-odds sports betting products. President Rousseff vetoed the fixed odds provisions, explaining that the creation of betting products would require a more comprehensive regulation, to ensure greater legal and economic security to the sport, adequate levels of fraud control and tax evasion.
 
The President was also concerned at the bill's lack of mechanisms “to prevent possible social impact.”