Brazil's federal sports betting regulations are ready, says Finance Minister, Fernando Haddad.
Brazilian government confirms federal sports betting regulations are ready for president’s signature
The Brazilian finance minister, Fernando Haddad, has stated that the country's federal sports betting regulations are ready and have been sent to the Civil House for analysis and the signature of President Lula Da Silva upon his return from London.
Haddad confirmed this news during an interview with CBN radio on May 5th. He added that the government had examined the experiences of regulated sports betting countries and agreed-upon practices among developed countries to develop a uniform solution.
The revised version of the proposal also includes a 16% tax on the income obtained less prizes, with the additional amount going to the Sports Ministry to encourage grassroots sports.