With the significant increase in the sports betting segment in recent years, Brazil has been debating the creation of regulations that encourage this industry in the country.
Everything indicates that the measure may come out in the next few days, which leaves people anxious for the sector to start operating within safe norms and rely on adequate supervision.
Since the beginning of the year, the Ministry of Finance has been planning rules to make the Brazilian betting market more attractive, fair and competitive.
According to the O Globo portal, the Treasury hopes to attract new companies in the sector with the regulation. In addition, recent preliminary studies and calculations indicate that around R$ 12 billion can be raised with a regulated national market.
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With the regulation of the sports betting market, the Ministry of Finance hopes to attract new companies in the sector to Brazil – those that can only operate in legal markets.
Preliminary calculations by the sector itself point to an annual collection of up to R$ 12 billion with the implementation of the government’s proposal.
In a press conference in Rio, however, the Minister of Finance, Fernando Haddad, cited a more conservative account, predicting something around R$ 2 billion.
The Executive must sign until Friday the Provisional Measure (MP) sent by the economic team to regulate the sports betting market in Brazil.
This is one of the bets to guarantee revenue growth and sustain commitments to control public accounts.
As the betting market is not regulated, the technicians at the Treasury are working based on projections from entities and associations in the sector.
The preliminary forecast is for an annual collection in the range of R$ 6 billion to R$ 12 billion, in the long term.
At the meeting of members of the Treasury with representatives of the betting sector, there were indications of “various companies” that want to enter the Brazilian market based on the regulation, according to the Ministry’s interlocutor.
This is because these companies can only operate in legalized markets – which is not the case in Brazil.
The expectation, therefore, is also to attract these companies from abroad, in addition to regulating companies already operating in the country.
The idea is that the process of qualifying companies will be the responsibility of the so-called Secretariat for Betting and Lotteries, which is being set up within the structure of the Ministry of Finance.
Minister Fernando Haddad has been defending Brazil’s alignment with other countries that have already regulated sports betting.
In March, when the economic team was working on the provisional measure, Haddad even mentioned that the sector “takes a fortune of money from the country” without paying any taxes.
