Licenses for betting sites will cost R 30 million in Brazil
Licenses for betting sites will cost R 30 million in Brazil

Brazil is getting closer and closer to having a regulated and safe sports betting market. Currently, betting sites operate with their headquarters outside the country serving jurisdictions in other regions – which ends up not generating any type of collection or benefit at the national level.

The government has been debating the latest issues to regulate the segment as a whole, paying attention even to the value of licenses for betting sites to operate in Brazil. The focus of the Ministry of Finance is to establish a fair price and period for betting companies, since our country attracts the attention of the biggest players in the sector, further enhancing the existing interest.

The Metrópoles portal, via a column by Guilherme Amado, published a news that details the latest updates from the Ministry of Finance regarding the values ​​of licenses aimed at betting sites – which until then were priced at R$ 22.2 million.

Check out the full news about betting sites in Brazil

The Ministry of Finance increased by almost BRL 8 million the value of licenses that will be charged for sports betting companies to operate in Brazil. The licenses will cost R$ 30 million and will be valid for five years.

The draft decree that was prepared at the Ministry of Economy, during the Bolsonaro government, stipulated the value of the licenses at R$ 22.2 million. The expiration time was the same.

The previous text was forwarded to Bolsonaro, but ended up being shelved due to pressure from the evangelical bench. On the occasion, deputy Marco Feliciano said he had convinced Bolsonaro to discard the proposal.

The Lula government wants to regulate sports betting through a provisional measure (MP). The Minister of Finance, Fernando Haddad, declared that the text will be presented after Lula’s trip to China.