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Brazil finalizes sports betting licensing plans

Brazil’s Ministry of Economy has produced its first draft of regulations for sports betting. If accepted, the country wouldn’t limit the number of licenses that could be issued, and operators would pay an annual tax rate of 1 per cent on turnover.

After outgoing President Michel Temer signed the approval of MP-846 bill last year, the federal government had launched a public consultation in August. Players, gaming sites and sports entities gave their opinion. After 30 days, 1,849 suggestions were submitted both from Brazilian, as well as foreign entities and individuals. Based on these results, the government set the guidelines for future regulation.

On top of the annual tax rate of 1 per cent on turnover, operators would pay a one-time license fee of R$3m (€665k) for a nine-year period. They also would need to maintain a financial reserve of R$6 million (€1,30m) to serve as a guarantee of payment to customers.

The regulation has reportedly outlined monthly licensing fees which will differ depending on the nature of the operation. Land-based operators will pay R$20,000 per month; online operators will pay R$30,000 per month and multi-channel operators will pay R$45,000 per month.

“We consider this to be the most adequate licensing regime and regulatory framework as it gives flexibility and allows various companies to operate in the market,” said to ‘O Globo’ newspaper Alexandre Manoel Angelo da Silva, from the Secretariat of Evaluation, Planning, Energy and Lottery (SECAP).

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