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SPORTS BETTING

Brazil – Government publishes details of sports betting measure

By - 18 May 2023

In an official release the Ministry of Finance posted the details of its proposed sports betting measure. The statement confirmed previous reports that online sportsbetting operators would be taxed at 16% on Gross Gaming Revenue (GGR). At the same time high taxes will also will be imposed  on winning bets for those workers who earn more than the monthly tax exemption rate (R$ 2,112.00).

According to the statement the government is in the final stages of regulating sports betting formalising an area of ​​public interest, establishing clear rules and guaranteeing a new source of revenue for Brazil. 

“The proposal for a Provisional Measure (MP), sent to the ministries that co-authored the measure – Planning, Management, Health, Tourism and Sports – will guarantee more confidence and security to gamblers, thanks to the transparency of the rules and supervision. After evaluating and signing the files, the proposal will be forwarded to the Chief of Staff. Based on this process, ministries will be able to issue ordinances to create mechanisms that prevent and curb cases of match fixing,” the statement read.

The release went onto to say that the Ministry of Finance had sought to put in place a system in line with the most up to date and efficient systems in other jurisdictions in the world. In addition the MP would also allow for the creation of a new supervisory body which would be responsible for granting licences and be in overall control over the newly regulated industry. Meanwhile the MP puts in player protection measures and bans advertising for unlicensed operators in the market.

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