The regulation of sports betting is on the Senate‘s agenda for this Wednesday, the 6th. Apparently, with a full vote in the Plenary.
On the other, which establishes a policy of decent work and citizenship for the homeless population (PL 2,245/2023).
Therefore, in the text of the Bill, fixed odds betting is a betting system that includes virtual online gaming events and real sports-themed events.
In the fixed odds modality, the bettor will win by correctly guessing the game or the final result of the match.
Likewise, the text obliges so-called foreign bets to have at least 20% of the capital in the hands of a Brazilian company, in addition to establishing an initial grant of R$30 million to authorize the sites to operate legally, valid for five years.
However, the project was on the Plenary agenda last week, but its vote was postponed after debate among senators.
Details of the sports betting regulation project in Brazil
Senator Angelo Coronel is the project’s rapporteur. Last Wednesday, he read the assent, but the vote in the Plenary was postponed.
Furthermore, the bill proposes to tax the revenue of betting companies at 12%, a reduction from the initial rate of 18%.
The proposal also requires that foreign companies have at least 20% of their capital in Brazilian hands.
Another relevant point is the initial grant of R$30 million for the legal authorization of betting sites, valid for five years.