Bill 456/2024, approved July 2 in São Paulo, Brazil, which establishes a municipal lottery in the city of São Paulo, will undergo an in-depth market study. This process includes bookmakers and concessions for online gambling companies.
To help draft the new law, Mayor Ricardo Nunes appointed several firms specializing in the sector, including Pay4Fun, to conduct a comprehensive study, which will include market assessments, demand estimates, and operational and regulatory data.
Pay4Fun, among other tasks, will prepare studies, diagnose scenarios, and survey the operational, economic-financial, and legal-regulatory feasibility. Based on the results of these studies, it will seek to assist the municipal public administration in the design of a company for the implementation and operation of lotteries and bets in the Municipality of São Paulo.
The company will count on the legal advice of FGO Legal, with specialists in the online gaming market. According to lawyer Ricardo Alegransi, the objective is to help the public entity create an efficient operating environment, following the strict rules for the prevention of money laundering and terrorism financing.
“This consultancy is crucial to ensure that São Paulo’s lottery and betting market operates within the rules established by the Central Bank, guaranteeing transparency and security for all those involved,” Alegransi said.
With the decision to create a municipal lottery, São Paulo joins other Brazilian cities that are also exploring this market, such as Campinas (SP), Vinhedo (SP) and Foz do Iguaçu (PR).
Original article: https://www.yogonet.com/international/noticias/2024/07/12/73107-pay4fun-conducts-technical-studies-for-the-implementation-of-a-municipal-lottery-in-sao-paulo
