Brazil’s Chamber of Deputies has moved the country one step closer to regulating online sports betting and igaming after approving the government’s gambling bill.
The legislation, which includes an 18 per cent tax on revenue and a BRL$30m (£4.89m) licence fee, will require that only companies who have an established presence in Brazil can acquire a licence.
Bill 3,626/23 is a substitute for the original Provisional Measure that President Luiz Inácio Lula da Silva passed in July. The text must now go to the Senate.
Among the changes are a drop to the revenue contributions to social security, down from 10 per cent to two per cent.
Other recipients of the resources will be education (1.82 per cent), sport (6.63 per cent) and tourism (five per cent).
“Interested parties must also adopt policies, procedures and internal controls to prevent money laundering, terrorist financing and the proliferation of weapons of mass destruction, and must send data to the Financial Activities Control Council” the Chamber of Deputies’ statement on the regulation said.
“These mechanisms should also seek to guarantee responsible gambling and the prevention of gambling disorder, in addition to the integrity of betting and the prevention of match-fixing and other fraud.”
