An old theme that has been dragging on, the regulation of Brazilian sports betting now seems to be close to a Senate vote. Come and learn more about what to expect from a new betting legislation in Brazil.
Sports betting has been a permitted activity for some years now, being more present in Brazil since this permission opened the way for the entry of new operators in the Brazilian digital space in 2018. Despite its intense presence, along with gambling, in the universe of our Internet users, with many quality and internationally recognized websites exploring the activity, the fact is that adequate regulation is still waiting for this sector.
At the moment, bill PL 845/2023 was presented by Jorge Kajuru, senator of PSB-GO, and by Hamilton Mourão, senator of Republicanos-RS: This new bill presents a possible regulation of sports betting in our country.
This project, forwarded to be analyzed by the Senate committees, intends that the country derives the greatest profit from the exploration of the market. Understand the motivations and what is now expected from the betting legislation in Brazil.
Regulation of the Brazilian betting market
Just last year and during the World Cup – where, let’s remember, Brazil was one of the favorites to win – US$35 billion in sports betting was transferred: a value that awakened even more the desire to regulate the activity in Brazilian territory.
Bill PL 845/2023 that has now been presented to the Senate consists of a proposal for betting operators to make a payment of R$20 million to the Brazilian state in order to operate in the country. This amount would be used to obtain an authorization with a period of 5 years, during which they could legally explore the activity, provided that they followed the rules in force, including the presentation of a “Responsible Gaming” session.
The bettors and expected changes
Bookmakers are official sponsors of several Brazilian teams and, therefore, fans are used to finding their names on the shirts of the players of their teams and in the stadiums of these teams. In addition, sporting events are also sponsored and some championships are even named after betting websites.
As you can imagine, the universe of sports betting constitutes a billionaire and expanding market in Brazil since 2018, when the activity was officially authorized. The absence of effective regulation has never called gambling into question, but it affects the operators – many of whom end up having their headquarters in other countries to avoid the lack of specificity in the rules of action – the government and the gamblers themselves, who end up taking advantage of an activity whose regulation also serves as protection to avoid health problems related to improper gambling practices. Thus, the creation of effective regulation has been talked about ever since, to protect bettors, create an organized space for operators and guarantee taxation, which play an important role in the development of the Brazilian economy.
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