Brazilian authorities outlined the regulations that will be introduced as soon as the local sports betting market goes live.
According to local media resources, the first set of guidelines has already been published by the federal government.
Public consultation on the issue was launched in August and lasted for thirty days. Basing on the results of 1,849 suggestions, Brazilian authorities came up with a rule book for future regulation. According to the Ministry of Economy, after the proposals are presented in full, another public consultation will be organized in order to guide the official regulation.
Details of the proposal
Sports betting operators entering the Brazilian market are obliged to pay a license fee of €658 thousand. The permit validity is 9 years after which the company must pay again with a certain readjustment.
Besides, the operating regime includes a monthly fee:
- €4500 for landbased betting rooms;
- €6300 for online operations;
- over €9000 for those operating both markets.
1% of the income is a mandatory levy according to the proposed tax regime.
As mentioned earlier, the speaker of the ICE Africa Conference shared his opinion on the role of technological advancements in the sports betting industry.
Read more: Bonus Hunting: Is It a Fraud?