Brazil's President signs provisional measure to fast-track sports betting regulations
President Luiz Inácio Lula da Silva of Brazil has signed a Provisional Measure to expedite sports betting regulations, including the creation of a regulatory body and an increase in sports betting tax
Brazil's President Luiz Inácio Lula da Silva has signed a Provisional Measure, No. 1,182, to expedite sports betting regulations, and also passed sports betting Law No.13,756 with several policy adjustments.
This measure will create the National Secretariat for Games and Betting, overseen by the Ministry of Finance, to regulate the Brazilian gambling industry.
Notably, the tax on sports betting revenue will rise from 16% to 18%, increasing the Ministry of Sport's revenue from 1% to 3%.
These measures will also permit non-Brazil-based operators to apply for licenses, subject to a R$30m (£5m) five-year license fee, taxes, and advertising laws.
However, these changes could still be denied by the Brazilian Chamber of Deputies' President, Arthur Lira.