Brazil Revamps Sports Betting Regulations with Eye on European Model

Brazil is adopting a strategy similar to Europe’s by revising its regulations on sports wagering. Since late 2018, Law No. 13,756/2018 has governed sports betting within the nation. Recently, the Brazilian Chamber of Deputies has endorsed some significant adjustments.

The most notable alteration? The amount betting firms must contribute from their revenues. Rather than a predetermined portion, the government will now receive a percentage of what is known as “gross gaming revenue” – essentially, the funds remaining after payouts to winners.

Imagine it this way: it’s akin to transitioning from a fixed charge to taking a percentage of the profits. What’s the rationale for this shift? Legislators assert it will provide more consistent income for the government and additional resources for areas such as social initiatives, healthcare, and education.

They are also drawing inspiration from Europe, where this approach appears to be successful. One representative even highlighted that it incentivizes individuals to place their wagers with domestic Brazilian operators.

Additionally, the Chamber of Deputies also ratified a provisional measure to raise taxes on financial entities and the chemical sector.

When the legislation was up for a vote, politically progressive groups attempted to strike Section 6, which addressed wagering on athletic events, but their proposed change was defeated by a count of 291 to 127.

It appears Rio de Janeiro is making a concerted effort to enhance its gaming offerings! Just in the previous month, they commenced incorporating fresh wagering choices into their regional lottery system. Their aspiration is that this will entice major entities within the sector capable of providing even more captivating gaming and lottery merchandise.