Higher taxes and new requirements for sports betting advertising
The Brazilian Ministry of Finance has been working on a new law for a long time after sports betting was legalized in Brazil in 2018. This has now been completed and contains various resolutions that should pave the future of sports betting in Brazil, such as this Brazilian Ministry of Finance explains [Link in Portuguese].
The most important point: The sports betting tax should be increased from 16% to 18%. This additional revenue will be used by the Ministry of Sports to support Brazilian sport.
The new law also contains a clear clause on sports betting advertising. Bookmakers are therefore obliged to add a reference to responsible gambling to their advertisements and banners, as is also the case in India and many other countries.
Whether and how the new regulations are implemented should be controlled by a new authority: a national office for games and betting (Secretaria Nacional de Jogos e Apostas) will be founded by the country's finance minister. The first 70 employees have already been hired.
Long postponements are now over
After sports betting was legalized in Brazil in 2018, it took a long time to introduce a corresponding law. Originallylich it was planned to draft the law as early as 2020.
However, there were repeated postponements and extensions. The new draft, which has now been completed, must now be approved by the country's parliamentigt.
Clear signal to international sports betting operators
The new draft law for sports betting contains another important clause: This stipulates that foreign sports betting providers also have the opportunity to acquire a license for the Brazilian market. The previous law left this open and did not explicitly allow it.
The cost of a license is said to be BRL 30 million. This corresponds to an equivalent value of approximately 5.7 million euros.
The same applies to gambling providers: In a vote in 2022, MPs decided to legalize gambling in Brazil in order to generate tax revenue.
What role does the new president play in this breakthrough?
The Brazilian authorities have not been able to finalize the sports betting law for a long time. The new President of Brazil, Lula da Silva, is considered to be much more open towards the gambling sector. It is possible that this change in government has meant that the law has now been finalized.
It remains to be seen whether it will be approved by the Brazilian Parliament in the next few monthsigt and come into force.
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