The sports betting PM was published last Tuesday, the 25th. The measure published by President Lula established specific rules for the sports betting market.
In addition, the text determined under what conditions someone cannot place bets such as being negative or under 18 years old.
While bookmakers will be taxed at 18% on the so-called “Gross Gaming Revenue” (GGR). That is, the income earned from all games after winning prizes have been paid out to players.
The Ministry of Finance believes that it will be able to raise up to 2 billion reais next year according to the terms of the sports betting PM.
In the coming years, the estimate is higher and varies between R$ 6 billion and R$ 12 billion.
What is the validity of the provisional measure?
A provisional measure is edited by the president and has the force of law as soon as it is published in the “Union Official Gazette“.
However, the PM needs to be approved by Congress within four months to remain in force.
Congress will be able to approve the PM preserving the text presented by the Federal Government or modifying, rejecting or even not voting.
If the sports betting PM is not properly appreciated, it loses the force of law and the old rules come back into effect.
Who will not be able to bet according to the sports betting PM?
Check below who will not be able to place bets, according to the measure of the Federal Government:
- Owner, officer, director, person with significant influence, manager or employees of the operating agent;
- Public agent with attributions linked to the regulation, control and inspection of the sector at the federative level, in whose staff it exercises its competences;
- Under 18;
- Person who has or may have access to fixed odds betting lottery systems;
- Person enrolled in the national credit protection registries.
It should be noted that the PM also prohibits bets by spouses, partners or relatives (in a direct and collateral line, up to the second degree) in cases of:
- Owner, officer, director, person with significant influence, manager or employees of the operating agent;
- Person with access to fixed odds betting lottery systems;
- Person with any influence on the event outcome.
Influence on the result
The sports betting PM also prohibits bets from anyone who may impact the result of the bet, including:
- Sports leader, coach, member of the technical commission;
- Sport referee, sports referee assistant, or equivalent, sports entrepreneur, agent or proxy for athletes and coaches, coach or member of a coaching committee;
- Member of the management or supervisory body of the management entity of a tournament organizer or sports event;
- Participant in competitions organized by entities that are part of the National Sports System.
