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Lula signs provisional measures for Brazilian sports betting launch

Updated:2024-03-20 09:27    Views:184

President Luiz Inácio Lula da Silva has signed Provisional Measure No. 1,182, which will pass sports betting regulations in Brazil.

Alongside the No. 1,182, the sports betting Law No.13,756 has also been passed, although with a number of adjustments to policy.

The Brazilian Congress will have 120 days to discuss the amendments and reforms pushed through by Lula.

The provisional measures, known as Medida Provisória in Portuguese, are demands from the President of Brazil that can be fast-tracked to Congress.

The first of the amendments details the creation of the National Secretariat for Games and Betting (SNJA), which will be overseen by the Ministry of Finance.

This institute will be responsible for all regulatory measures for the Brazilian gambling industry,Casino games including the establishment of licensing procedures and technicalities.

Secondly, the tax on sports betting revenue will increase from the original amount of 16% to 18%, which in turn will increase the revenue given to the Ministry of Sport from 1% to 3%.

In contrast to the original proposal in 2018, the new provisional measures will also allow operators who are not based in Brazil to apply for a licence.

Operators will also be expected to pay R$30m (£5m) for a five-year licence, as well as adhere to tax payments and advertising laws.

Although the provisional measure has been signed by Lula himself, it may still be denied by Arthur Lira, the President of Brazil’s Chamber of Deputies, in Congress.

Earlier this year, Gambling Insider analysed what the regulated Brazilian sports betting market could look like going forward.



 




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