Brazil finishes public consultation on sports betting

Brazil sports betting is getting closer.
Brazil sports betting is getting closer.

Lawmakers in Brazil will now analyse the results of the public consultation on sports betting in order to consider whether to legalise the segment.

Brazil.- At the end of July, the Brazilian government launched a public consultation on the gaming market. Residents of the Latin American country were able to give their opinion regarding the regulation of sports betting. The public consultation emphasised on fixed odds bets’ regulations.

Meanwhile, lawmakers continue to discuss the operating conditions of sports betting in Brazil. This way, they will be able to include the results of the consultation during the debates that were scheduled for September.

Electronic public consultation

The notice was published in the Federal Official Gazette. As they establish, it aims to collect contributions for the regulation of sports betting. For their part, those interested in participating did so through the specific consultation site. The consultation had a period of 30 days (from July 30 to August 31).

Projections

While legislators debate the conditions of sports betting operations, the Brazilian government evaluates how big the tax collection will be. According to the authorities, legal sports betting would pay a total of US$1.5 billion to state coffers.

The Congress could officially approve regulations between September and the end of 2019. Meanwhile, Alexandre Manoel Angelo da Silva, National Secretary of Public Policy Evaluation, Planning, Energy and Lottery of the Ministry of Economy, will lead the financial evaluation.

He then explained that, when the public consultation was over, they would make an official estimate on the segment’s tax collection. “We launched a public consultation. We gave the market 30 days to comment with suggestions. The idea is to spend another 30 days of study and start regulating in mid-October or November, ” Silva had said.

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