Sports betting and igaming regulations in Brazil have moved another crucial step closer to launch after the Economic Affairs Commission passed Bill 3,626/23 to the Senate Plenary.
The vote, initially scheduled for Tuesday but postponed until Wednesday, got over the line thanks to support from Senator Angelo Coronel.
Sports betting tax has been reduced to 12 per cent from 18 per cent in one key amendment.
Thirty-six per cent of the tax will go towards sport including the Ministry of Sports, while 10 per cent will go towards education in Brazil.
The Senate Plenary vote will take place on November 28 and if passed, the regulations will face further investigation before potentially being handed to president Lula da Silva.
Coronel said the regulation “fills this gap in Brazilian legislation” and “puts the country at the forefront” of sports betting and igaming regulation.
He said there are now “clear rules for its authorisation and the identification of providers, the volume of bets, supervision and several other relevant factors,” as well as enabling the collection of taxes from gaming.
