The regulation of sports betting is being processed urgently in the Senate. This is because the bill has already been approved in the Chamber of Deputies.
Currently, the proposal is being debated in the Sports Commission (Cesp) and the Economic Affairs Commission (CAE) of the Senate.
Rapporteur at the Senate’s Economic Affairs Committee (CAE) of the text that provides for the regulation of betting and legalizes online casino games, senator Angelo Coronel (PSD-BA) is articulating some changes.
According to the Valor article, the senator is negotiating with the Ministry of Finance a reduction of at least three percentage points in the rate in relation to the text that came from the Chamber of Deputies.
Furthermore, Coronel should also suggest taxation based on the profit, and not the volume bet.
Sports Commission may vote on betting regulations on Wednesday
While the Senate Sports Committee intends to vote on Senator Romário’s report this Wednesday, November 1st.
The changes proposed by Romário should be more impactful. According to Globo, the former football player must also remove from his report the part that includes other types of online betting, but those that are not sports.
After all, Romário has already publicly taken a stance against websites with online casino games and slots.
After voting in the two committees, the topic will be forwarded to a vote in the House Plenary. If senators approve changes to the text, the proposal will return to the Chamber of Deputies.
Federal Government awaits regulatory approval
The Federal Government expects betting regulations to be approved by the beginning of November. The intention is to prevent the current provisional measure from expiring.
Furthermore, the government is counting on revenue from the betting market to reach the fiscal target of 2024. With the market properly regulated, the expectation is to earn between 6 and 12 billion reais per year.
