Signing Provisional Measure No. 1,182, President Luiz Inacio Lula da Silva will be passing sports betting rules in Brazil.
Apart from the No. 1,182, the sports betting Law No. 13,656 has also been approved however with certain policy changes.
The revisions and changes Lula pushed forth will be discussed by the Brazilian Congress in 120 days.
Known in Portuguese as Medida Provisória, the temporary measures are demands from Brazilian President that can be expedited to Congress.
The first of the modifications describes the establishment by the Ministry of Finance the National Secretariat for Games and Betting (SNJA), under control.
All regulatory actions for the Brazilian gaming sector—including technicalities and the creation of licencing processes—will be handled by this institute.
Second, the tax on sports betting income will rise from the original level of 16% to 18%, therefore boosting the income transferred to the Ministry of Sport from 1% to 3%.
Unlike the first plan in 2018, the new temporary measures will also let operators without Brazilian base apply for a licence.
Along with following tax policies and advertising rules, operators will also be forced to pay R$30m (£5m) for a five-year licensing.
Lula personally signed the temporary measure, although Arthur Lira, the Chamber of Deputes President for Brazil, may still object in Congress.
Gambling Insider looked at what the controlled Brazilian sports betting market would look like moving ahead earlier this year.
18+. T&Cs Apply.
18+. T&Cs Apply.
18+. T&Cs Apply.
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