Project that encourages the creation of new sports betting companies advances in São Paulo
Photo: Wilson Dias / Agência Brasil

A proposal is advancing in the city of São Paulo to encourage the growth of the sports betting market. This is the bill 613/2022, which was presented by the mayor of the city, Ricardo Nunes.

The text suggests that a minimum rate of 2% be adopted for businesses in the betting, bingo and lottery segments. According to the São Paulo chief executive, the bill would directly impact the sports betting segment, opening new jobs and generating more investment for the city.

Mayor of São Paulo defends project that stimulates the sports betting sector

“In this scenario, although the proposed changes represent an option for the incidence of the tax at a lower rate, they actually aim to establish a tax burden capable of providing the retention or attraction of taxpayers with high mobility to the municipality, the generation of employment and the development of the local economy, either by encouraging the economic activities involved, or by maintaining and attracting companies in adequate operating conditions in the Municipality of São Paulo”, said the mayor.

As it is a bill – the proposal needs to be discussed and approved by the Legislative Power and forwarded for consideration by the head of the Executive Power. According to the website EsportesDP, councilor Edir Sales (PSD) was appointed as rapporteur by the president of the section.

Therefore, the councilor must produce the opinion, within eight working days, referring to the text. As indicated in the opinion, the proposal needs to be voted on by the commission and, if approved, it is destined for analysis and approval by the mayor.

São Paulo City Hall participated in betting event

It is important to highlight that the São Paulo City Hall was present at the SBC Summit Latinoamérica 2022, with the intention of debating the project with representatives of the betting segment. In addition, the convention promoted spaces for discussions on business opportunities and the development of the sports betting market in Brazil.