The South American nation of Brazil is nearing the implementation of a regulated sports wagering sector. Recently, the Senate greenlit legislation that will be presented to the House of Representatives shortly. Should it pass, the legislation would levy a 12% tax on the earnings of internet-based betting platforms and a 15% tax on the winnings of those placing bets. Businesses would also be required to secure a license costing a substantial $58 million USD to conduct operations in Brazil.
Although sports betting received legal status in Brazil in 2018, the market has functioned without uniform regulations. This legislation represents a major stride toward establishing a structure for online gaming and wagering activities within the country. Government authorities have already initiated measures to define standards for operators, and this bill underscores their dedication to fostering a well-organized and lucrative market. Indeed, government projections anticipate over $330 million USD in tax receipts in the upcoming year alone.
This paper details the regulatory, financial, and technological benchmarks for sports wagering providers in Brazil. It stresses anti-money laundering protocols and safeguards for participants, guaranteeing a secure and equitable industry.
To function within the law, platforms need to secure accreditation from approved testing facilities and provide ongoing user assistance in Portuguese.
These actions expand upon current laws and active programs, like Senator Angelo Coronel’s efforts on Bill 3626/23, to establish a complete oversight structure for sports wagering and internet-based gaming in Brazil.
