SPORTS BETTING
Brazil – Government expects to generate R$3 to R$6 billion via sports betting bill
By James - 3 July 2023
The special adviser to the Ministry of Finance José Francisco Manssur told press that the regulation of sports betting in Brazil has the potential to generate revenues of between R$3 to R$6 billion for the government by 2024.
In April, Minister of Finance Fernando Haddad had mentioned in an interview that the Federal Revenue had forecast a collection of between R$12 billion and R$15 billion a year. However, Manssur explained that this had been a long-term estimate taking into account the potential of the regulated market over the coming years.
“We expect in 2024 to raise between R$3 and R$6 billion reais. And growing over time and we will reach in a few years the number that the minister put forward,” Manssur said.
According to Manssur, the government’s sport betting measure should be put forward by the Ministry of Finance in July.
In addition to processing the provisional measure, the government will also send a bill related to “integrity in sport” to Congress. This project aims to establish the creation of a National Agency responsible for overseeing the sports betting market in Brazil.
This agency will be tasked with guaranteeing the integrity of sports and preventing the manipulation of results, promoting transparency and fairness in the sports betting sector.
“The Ministry of Sport is working on a draft bill that will address betting, integrity in sport broadly. Not only related to betting, but also other topics that are important for the Ministry of Sports and that Minister Ana [Moser] already understands that an agency needs to be created,” Manssur said.
