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Brazil set for sports betting as President approves legislation

13th December 2018 8:48 am GMT
Brazil

President Michel Temer of Brazil has approved the bill to create a new sports betting lottery and to divert a greater share of lottery funds to public security, sport and culture.

President Temer approved Provisional Measure 846/2018 on Wednesday in a ceremony attended by a host of senior ministers and the Brazilian Olympic Committee.

The bill creates a framework for fixed-odds sports betting, which may be offered online and in retail, and gives the ministry of finance [...]

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