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Under the bill, only companies with headquarters and administration in the country can apply for a sports betting license. This requirement was initially discussed in earlier legislation but now has officially been included in the bill’s language, pending Senate approval.<\/p>\n<\/div>\n
At least one member of the applying company must also possess verifiable expertise and experience in gaming operations.<\/p>\n
The license will cost up to BRL30 million (US$6.1 million) and will only be granted to those who meet the requirements. The fee covers just one online betting app and must be paid within 30 days following approval.<\/strong><\/p>\nThe license, issued at the discretion of the Ministry of Finance (MoF), can have a duration of up to three years and is non-negotiable and non-transferable. If the authorized company undergoes a merger or a change in shareholder control, the MoF will assess, on a case-by-case basis, whether the license remains valid.<\/p>\n
Revenue Allocations<\/h2>\n
The revised framework also allocates 82% of operators’ gross revenues (after deducting prizes and income tax). Previously, operators were entitled to retain 95%.<\/p>\n
Instead of 10% of the tax revenue going to the Social Security Administration, as some lawmakers had proposed, the sector will now retain 2%. Brazil’s education system will receive 1.82%, while sports organizations will enjoy 6.63% of the revenue. The tourism industry will also benefit from a 5% increase in funding.<\/p>\n
Operators will be required to compensate clubs and athletes for using their names, brands, and other symbols. Of the 6.63% share, 1.13% must be used.<\/strong><\/p>\nAnother 0.5% of the amount will go to official state-level sports organizations. Half of this will be divided among the state\u2019s municipalities based on their populations.<\/p>\n
The education system will allocate 0.82% to early childhood, elementary or secondary schools that have met national assessment targets.; 1% will be allocated to public technical high schools.<\/p>\n
The Ministry of Tourism and Embratur, the Brazilian Tourist Board, will share the 5% allocation in the tourism segment. The Ministry of Tourism will receive 4%, while Embratur will receive the remaining 1%.<\/p>\n
The information is based on the latest available data and is subject to change as the legislation progresses.<\/p>\n
Upcoming Ad Bans<\/h2>\n
The bill also includes provisions on advertising. Under the bill, only licensed operators can advertise within the country.<\/p>\n
Advertisements cannot include unsubstantiated claims about winning odds or potential earnings for bettors. The use of personalities or celebrities to portray betting as a means to achieve wealth or social status is strictly prohibited.<\/strong><\/p>\nCurrently, there are no specified time periods for advertising restrictions. However, the new bill implies changes could happen immediately.<\/p>\n","protected":false},"excerpt":{"rendered":"
Efforts to establish regulated sports betting in Brazil have reached a significant development. The Chamber of Deputies, long eager to launch a regulated market, has approved a revised bill that provides clearer guidelines for the industry. The updated legislation covers crucial aspects such as revenue distribution, operator requirements, and restrictions. It integrates certain provisions from […]<\/p>\n","protected":false},"author":64,"featured_media":289623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81884,13],"tags":[40,81904,81899,80968],"acf":[],"yoast_head":"\n
Brazil Approves Revised Sports Betting Bill - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n