inspiration from others<\/a> that have enjoyed great success around the world. Like many of those and a significant feature for Brazilian consumers, the lottery will likely have a price point of R$6 (US$1.20).<\/p>\nFEBRALOT expects everything to be in place by the end of the month.<\/p>\n
Guaranteed Millionaires<\/h2>\n During the virtual meeting, the lottery leaders provided a visual concept and mechanics of the game with its prize ranges. They also explained the table of betting prices and rules for the execution of the pools.<\/p>\n
The lottery will have a “Prize Guarantee Reserve” (PGR) that will ensure that whenever the jackpot hits, the next draw will reset to the minimum prize. The officials also established rules for the unloading of the fund in certain situations, always in favor of the main prize.<\/p>\n
Reportedly, the expected profits should lead lotteries to get a commission increase for the sale of draws of between 25%-50%. This depends on consumer participation in each state.<\/strong><\/p>\nAnother reason for the delay could be because of a change in command. Waldir Eust\u00e1quio Marques J\u00fanior is leaving his position as the head of Brazil’s Undersecretariat of Prizes and Draws. Taking over is Iuri Ribeiro Castro, the general coordinator of lottery regulation for the Ministry of Economy.<\/p>\n
Paran\u00e1 Ready for Sports Betting<\/h2>\n The state of Paran\u00e1 introduced regulations last week that govern the operation of the Lottery of the State of Paran\u00e1 (Lotepar, for its Portuguese acronym). The new regulations have direct ties to the Secretary of State for Finance.<\/p>\n
The timing of the new structure coincides with another big event in Brazil. On May 10, President Jair Bolsonaro could sign a decree that will regulate the country’s sports betting industry.<\/strong><\/p>\nThe new measure lays out the specifications of the new entity and lottery options. It allows the exploitation of sports, fixed-odds, numerical, instantaneous, and passive bets.<\/p>\n
The Lotepar managing authority may manage the games directly. The Secretary of State for Finance will soon define the appointments of the positions that will make up the structure of the lottery agency.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brazil’s lottery market is amid several changes. The most anticipated change is the introduction of a new lottery that includes a minimum prize of R$10 million (US$2 million). Brazil’s new +Millonaria lottery is only waiting on a few minor adjustments before it launches. The original plan was for it to launch on May 2, but […]<\/p>\n","protected":false},"author":64,"featured_media":211716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81884,13699],"tags":[],"acf":[],"yoast_head":"\n
Brazil's Gambling Market Adding New Lottery, Sports Betting Options - Casino.org<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n