Brazil sports betting vote to take place today
The Brazilian Senate is to vote on Bill 3626/23.
Brazil.- A Senate vote on Brazil‘s sports betting bill, Bill 3,626/23, has been scheduled for today. A vote had been scheduled for last week but was put back due to disagreements over the late inclusion of online casino gaming.
Senators opposing the inclusion of online casinos asked for a delay. Former rapporteur Adolfo Viana of the PSDB had proposed the addition of igaming to the bill in September, and the Chamber of Deputies approved the text. However, several senators including Eduardo Girão and Carlos Portinho argue that there is no adequate framework for the regulation of online casino and that more consideration of the bill is needed since over 100 changes have been made since its submission to the Senate in September.
Other changes endorsed by the Senate Economic Affairs Commission (CAE) include a 12 per cent tax rate on sports betting operators and a 15 per cent tax on player prizes. These rates are lower than the 18 per cent and 30 per cent rates put forward by the Ministry of Finance. The CAE deemed that the lower tax rates were necessary to attract consumers and businesses to the new regulated federal sports betting market.
134 companies show interest in Brazilian sports betting licences
Meanwhile, the Ministry of Finance has reported that it has received expressions of interest from 134 companies interested in gaining licences to join the future regulated sports betting market in Brazil. The Ministry had outlined the requirements for operators at the end of October in Ordinance 1330 and provided 30 days for companies to express their interest.
The requirements listed include the establishment of dedicated service centres for customer support. Licence applicants will have to maintain industry integrity and meet ethical and legal standards. They will be required to monitor for irregular or suspicious transactions and report them promptly to the Financial Activities Control Council (COAF).
Treasury advisor José Francisco Manssur said the number of expressions represented “the result of the constant dialogue between the Ministry of Finance and all segments of the market in the construction of a regulatory framework that is safe and reliable for everyone involved.”
