As Brazilian news on lottery reports, the local authorities have recently introduced a new regulatory framework for the gambling industry and its lottery sector in particular. The Chamber of Deputies has to review the project before it could come into force.
The chairman of the Tourism Commission in Brazil, João Bacelar, as well as the president of the local Institute of legal gambling (IJL), Magnho José, took part in a Gaming Regulatory Framework creation, presenting it before the Special Secretariat of the Ministry of Economy last week.
The regulation hastens an instant lottery launch
The experts have outlined several gambling options in the project, proposing an exclusive casinos’ regulation in touristic resorts. They also have set guidelines for the lottery and sports betting legislation. The framework covers popular lottery games such as video slots, bingo games, and instant lottery Lotex, as well as all bookmaking operations
The proposal, however, doesn’t include data on the legislation of casinos, as the National Congress is going to manage their revenue.
As the IJL’s president M. José has noted, the project aims to collect more than R$20 billion in taxes from the sector whilst creating 450,000 legal jobs for Brazilian citizens. It is also expected that the new regulation will attract more investments to the country’s gambling market.
Last week local authorities approved a new taxation system launch, switching from turnover tax to a revenue-based one. This change is intended to popularize the local operators among Brazilian citizens.