Brazilian Senate approves sports betting regulations

The bill's journey towards becoming law is not yet complete. It still necessitates approval from the lower house before receiving final enactment.

brazil senate
Listen To Article

The Brazilian Senate passed a bill on Tuesday, regulating and imposing taxes on sports betting, an initiative projected to generate an estimated 1.65bn reais ($332.3m) in revenue for the Government next year.

The legislation mandates a 12% tax on revenue for online betting companies and a 15% tax on gamblers' winnings. Additionally, betting companies are required to acquire a licence valued at 30m reais to operate within the country.

Sports betting was legalised in Brazil in 2018 but remained unregulated. Since then, numerous betting firms have been actively expanding their operations in the country.

The bill marks a significant move towards regulating Brazil's sports betting market, seeking to instate a structured framework for online gaming and betting activities. This measure follows the establishment of various regulations and requirements for operators aiming to provide sports betting in the country.

Decree 1330, published by Brazil’s Ministry of Finance in the Official Gazette, outlined essential criteria for operators interested in offering sports betting services.

It detailed the necessary legal, financial and technical qualifications companies must meet, stipulated operational standards and highlighted provisions to prevent money laundering and ensure bettors' rights.

Furthermore, the sports betting platform requirements mandate certification by recognised laboratories and the provision of customer services in Portuguese, available round the clock, free of charge.

The ongoing efforts to regulate sports betting in Brazil align with previous legislative actions and ongoing endeavours, such as the appointment of Senator Angelo Coronel as Rapporteur for Bill 3626/23, aimed at establishing a regulatory framework for sports betting and online gaming.


LATAM News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Relax Gaming
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...