Gambling operators in Brazil have been given the green light to submit their interest in obtaining a sports betting license. The Brazil ministry of finance recently published the general conditions for the operation of sports betting, including the licensing process, responsible gaming, and advertising. This news comes after the president and the lower house of parliament gave their approval for legalized sports betting.

According to Decree 1330, foreign businesses will be allowed to operate in Brazil, but they must establish a subsidiary in the country and create a local customer service center that offers assistance in Portuguese 24/7. The ministry of finance is accepting preliminary expressions of interest from businesses until late November. Interested companies must indicate the number of brands they plan to operate and the types of operations.

One major focus is on ensuring the integrity of sports, with licensees required to implement mechanisms to prevent match-fixing and financial crimes. Responsible gambling is also a priority, with operators mandated to have internal control systems and mechanisms for self-exclusion. Advertisements for gambling must include age restriction warnings and should not present gambling as socially attractive.

In September 2023, the Chamber of Deputies approved a gambling bill that regulates both sports betting and online casinos. The bill includes a gambling tax of 18% on revenue, with additional contributions bringing the total tax to 31-34%. A license fee of R$30m has also been announced. The path towards legalizing online gambling in Brazil began in 2018 with the passage of Federal Law No 13,756/18, but faced obstacles along the way.

However, under the new leadership, Brazil has moved forward with regulating sports betting to fund social projects. If approved by the country’s Congress within 120 days, the regulation could permanently legalize sports betting. The industry is closely watching these developments as they await further clarification and guidance from the government.

By admin