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Sports Betting Consultation Is not Yet in Operation in Brazil

19 September 2019, 11:31
Votes: 1

Brazilians claimed the public consultation regarding sports betting has not been launched yet. However, the authorities stated otherwise.

Sports Betting Consultation Is not Yet in Operation in Brazil

The previous week, Brazilian government issued a draft law on sports betting. Then, on Friday, public consultations on this topic were announced to begin. Besides, authorities reported the consultations would be available until September 27. However, according to the Brazilian media, it is not working. Many Brazilian residents can not get access to the public consultations to share their opinion regarding sports betting.

Draft law on sports betting

The federal government already has a draft plan on sports betting. Now the authorities are elaborating the decree that will regulate this industry in Brazil. This draft law provides for the tax regime and fines to those who will be caught operating illegally.

Companies aiming at operating in Brazil have to pay €660,000. Therefore, they will be able to operate for nine years. When this period is over, companies must pay again an updated amount. According to the authorities, such system follows the United States and Italy models.

To cope with illegal sports betting businesses, the Brazilian government will set the tax rate at 1% of income. The operators asked the authorities to calculate the tax regime taking into account the gross income of the game.

As mentioned earlier, the Brazilian government is preparing a draft plan on sports betting regulations in order to gain control over a large market in this industry.

Read more: What is the Future of In-Play Betting?

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

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