In a country fond of sports, especially football, the betting sector is gaining more and more popularity and the question is now on the conclusion of the regulation of sports betting. Today, brands are exempt from any type of taxation in Brazil. The intention of the Federal Government is to compensate for the loss of collection, with the increase of the Income Tax exemption.
“For the population, in a way there will be no outcry, because there is an increase in taxation on online betting, which already pays in other places in the world and does not pay in Brazil. In fact, what the government wants to do is increase its collection. There is a loophole in Brazilian taxation, which is not to tax these betting sites”, explained economist Ricardo Mello. According to the specialist, the rate forecast varies between 10% and 20%: “It is estimated that the collection would be from R$ 2 to R$ 8 billion”.
Taxation should happen through an interim measure in the coming weeks and the new sports betting regulation should require companies to have headquarters in the country. In an interview with Jovem Pan News, the influencer DK Trader, stated that the regulation of the sector is positive, but it is necessary to evaluate some conditions.
“Currently, in Brazil, we have approximately 450 bookmakers. It is very difficult to maintain control without regulation by the body, which in this case is the government. But you have to see the points they will make, if it will not harm the punters. There are many people who are making an extremely satisfactory income from this market”.
Industry executive considers regulation of sports betting as indispensable
Thomas Carvalhaes, an executive at Vai de Bob, agrees with the professional bettor and assesses the change as something essential for the country. “In the case of sports betting, which is the case we are dealing with in Brazil. It is important that until then, in the absence of regulation, this house has a license issued by an entity that is already recognized in the global market”, he said.
“Regardless of regulation or not, we have seen that the Brazilian sports betting industry has been growing, because the market has been demanding. Brazilians have been getting used to the issue of sports betting and want regulation”, concluded Carvalhaes.
