Brazil’s sports betting to contribute US$1.5 billion

The Brazilian government forecasts legal sports betting to add US$1.5 billion to state coffers.

Brazil.- 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.

As he explained, once the public consultation is over, they will 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, ” said Silva.

Sports betting seminar in Brazil

Such information emerged in a sports betting seminar promoted by the Paulista Football Federation (FPF) in São Paulo. The seminar “Sports betting, philanthropic raffles and commercial promotion” covered several topics on the sector. It was aimed at sports managers, executives and club leaders who work in marketing and legal departments. Both for professional and non-professional football. In addition, it included lawyers, students and other participants in the football industry.

The event was an opportunity to see first hand the plans of the Ministry of Economy for the regulation of sports betting. He also explored the possibilities of philanthropic raffles and commercial promotions as fundraising for sports entities. He also presented the FPF Integrity Manual, clearly indicating the difference between bets and match-fixing.