The interest of companies exceeds what was expected by the Ministry of Finance, with regard to sports betting platforms that will come to Brazil after their regulation.
The ministry was surprised by the number of companies interested in operating in the sports betting market in Brazil next year, when the regulated market is expected.
The ministry is now racing against time to approve the proposal in the Senate and prevent any withdrawals.
According to the Folha de S. Paulo newspaper, the department received 132 expressions of interest from companies that want to participate in the sector in the regulatory process.
This number is four times higher than previously expected.
The expectation now, according to members of the Ministry of Finance, is that around 100 of these companies will operate in the market.
PL should be approved later this year
Considering the value stipulated by the project for the grant, this means around R$3 billion to the federal government plus tax collection.
Companies that want to operate in the market will still have to pay this amount of up to R$30 million, which will be defined by the Treasury.
The authorization will be valid for up to three trademarks for five years.
But the main factor is that the bill should be approved later this year for taxes (contributions) to enter the 2024 calendar.
Online casinos face resistance from the opposition
The issue of online casinos is still a topic to be debated by the opposition and conservative sectors, who are fighting to change the proposal.
That is why the last session of the Senate postponed the vote due to its dissatisfaction with this issue, frustrating those in favor of the fixed-odd sports betting sector.
This week the vote was not on the agenda due to travel by many of the senators who were supposed to be present.
On the other hand, the Chamber included a section that allows internet gaming, which includes online casinos.
But this text is being criticized by opposition senators, such as Portinho (PL-RJ) and Eduardo Girão (Novo-CE).
“I believe that it is an exaggeration for us to deal with the project, which was created for real games, virtual games”, he said, stating that he is working to deal with amendments that change this part of the proposal.
He believes that this would attract few jobs to Brazil. “Virtual games generate jobs in China and Russia, where the developers of these programs are located”, says Portinho.
In the same way he states: “They took an essentially good, and necessary, project and included other types of games that raise other concerns.”
Bets exceed expectations
According to Folha de S. Paulo, the Treasury had estimated the granting of 30 grants, a much smaller amount than the more than 130 expressions of interest received by the department.
Therefore, there is an expectation of R$3 billion raised from the grants, not counting what the Union could receive in tax collection.
On the other hand, the Treasury feels pressure to collect this volume of taxes and hopes that the project will be approved later this year,
But he is concerned about how little time there is for this, as after passing through the Senate, it still goes to the Chamber before going to Sanction.
“Brazil should be the largest market in the world in 2025 in betting operations. The result of attractive taxes for players and competitive for bookmakers,” says Angelo Coronel (PSD-BA).
The rapporteur also comments: “And those who will win are the Brazilian people with extra resources, applied in various segments.”
