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  1. #1
    The Buzz's Avatar
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    Default Sports betting is now legal in Brazil

    On Monday, Brazil after president Luiz Inácio Lula da Silva signed Provisional Measure No 1,182, which means that the 2018 Brazil sports betting regulations approved in Law No 13,756 have now been passed, with several amendments, authorizing sports betting and tax companies’ revenues by 18%

    The decree comes less than one year after an investigation by the attorney’s office in Goias showed that some players had been offered between $10,000 and $20,000 to perform specific actions, like receiving yellow cards and giving away penalty kicks. Alleged criminals would then profit on betting sites.

    According to CNN Brazil, both the bill and the provisional measure will be published today.

    From the article:

    According to the texts, the value of the grant will be defined in another act of regulation by the Executive.The internal estimate is that each company pays R$ 30 million to operate in the country for five years.

    The authorization to operate in Brazil leads to the implementation of gaming houses, advertisement/commercial disclosure and also the regular payment of taxes.

    Based on the amounts obtained by exploiting the games, companies must first pay the prize to the player, then deduct federal taxes (such as Income Tax and PIS/Cofins), as well as local taxes (such as ISS).

    After that, the net income would be apportioned between the Public Security Fund, the Education Fund, the Ministry of Sports, the profit of the clubs and operators, among others.

    The expectation is that the regulation of the sports betting sector will result in the collection of BRL 6 billion to BRL 12 billion. For the 2024 budget, BRL 2 billion should be considered, so that there is no legal uncertainty.
    Read more here: https://www.cnnbrasil.com.br/politic...edium=referral
    Last edited by The Buzz; 26 July 2023 at 8:40 am.

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  3. #2
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    danwilliams is offline New Member
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    It seems like affiliatepocalypse for casino affiliates is coming

  4. #3
    dannyx is offline Public Member
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    No offshore bookmaker/casino will care whether Brazilian players can or cannot play. They will still be accepted everywhere no matter the laws.

    Most but not all offshore operators exclude US, EU and UK player registrations.

    No one cares about Russia's law, for example. Everyone accepts players from Russia.
    It will be the same with Brazil.

  5. #4
    JacobPre is offline Public Member
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    I'm not even surprised they did it. The more they legalized, the more taxes they received. Sad but true

  6. #5
    The Buzz's Avatar
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    Great recap of the bill here from James Lee frok VIXIO GamblingCompliance on a LinkedIn post:

    Here we go! Brazil yesterday finally published its long-awaited "provisional measure" to regulate #sportsbetting. Here's what that entails... ��

    ➡️ Whilst the measure takes effect immediately, Congress has 120 days to approve, reject or amend it.

    ➡️ Unlimited number of licences will be available to both national & international companies (provided they are established in Brazil).

    ➡️ 18% tax on GGR - an increase from the 16% proposed in a previous draft (industry has raised concerns that this may harm channelisation).

    ➡️ Licence fee not yet set. The Ministry of Finance will determine this (officials have previously mooted a cost of R$25m-R$30m, but there are some calls from industry to reduce this, to compensate for the tax rate).

    ➡️ Operation or advertising of unlicensed sports wagering is forbidden. Unlicensed sites or illegal financial transactions can be blocked.

    ➡️ Sports integrity measures include a ban on sports players, coaches and others (including direct family members) participating in wagering, and prohibition on sports team owners controlling/owning a sports-betting operator.

    ➡️ See the link in the comments for more detailed analysis from VIXIO Regulatory Intelligence's Talia Samuelson and James Kilsby.

    ⭐ Importantly, this is only the start of the implementation process. The Ministry of Finance can now proceed with publishing secondary regulatory ordinances, which will map-out more specific requirements on licensing, advertising, responsible gambling and technical matters. VIXIO GamblingCompliance will be following/analysing all the key developments in the months ahead, to keep our subscribers ahead-of-the-curve (drop me a message if you'd like to learn more about our services!)

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  8. #6
    edwinrogers is offline Brand New Member
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    Even I am not surprised that they did it. Taxes increased in accordance with the level of legalization. Sad but accurate.

  9. #7
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    Good that it is finally legalized and will open opportunities for many. Certainly, for a country in dire need of revenue, this will help.
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    Lets see how it goes with casino regulation..

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