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Brazil To Publish First Draft Plan of Sports Betting Regulations

11 September 2019, 10:43
Votes: 1

The Brazilian Secretariat of Evaluation, Planning, Energy and Lottery (SECAP) is preparing a draft plan of sports betting regulations.

Brazil To Publish First Draft Plan of Sports Betting Regulations

According to SECAP, operators will have to pay R$3 000 000 for a nine-year license and then R$20,000 every month (this is in case of land-based betting operators). Online operators will pay R$30,000, and, as for operators that use both ways, they will be required to pay R$45,000.

SECAP also adds there will be no restrictions on the number of licenses.

The previous consultation on this subject began on July 1 and finished on August 31. According to media reports, approximately 1,800 proposals and claims were submitted and 600 of them were from gambling operators.

The second period of consultation will start in September although the exact date has not been set yet. It will be the last opportunity for all those who wish to make a contribution to sports betting regulations in Brazil.

The Brazilian government intends to gain control over a large sports betting market thanks to these regulations. They will allow receiving more tax revenue, attracting new foreign investment, creating more jobs and maintaining the integrity of sporting events.

As mentioned earlier, Brazil is in the process of changing its gambling policy.

Read more: DFS Industry vs. Sports Betting: Expectations and Forecasts

Read more: What is a Double Chance Bet?

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