Bill (PL) 3626/2023 intends to regulate the lottery modality called fixed-odd betting in Brazil.
This legislation proposes changes to existing laws, repeal of provisions from a previous decree-law and other measures related to this type of betting.
The project seeks to regulate the administrative process related to sports betting companies, known as “bets“, which operate with real sporting events.
It was approved by the Chamber of Deputies and is now before the Senate, including measures such as the redistribution of revenue, payment of grants and additional taxes.
Defense of Caixa Econômica’s exclusivity in fixed-odds bets
Fenae, which represents Caixa Econômica Federal employees, is concerned about the entry of private companies into the fixed-odd betting operation, fearing a diversion of resources from the public bank’s social programs.
Caixa lotteries in Brazil have a long tradition and contribute significantly to the country’s priority areas, such as health, education, public safety, sport and culture, through the transfer of revenue.
In 2022, for example, these areas received R$10.9 billion, an increase of 23% compared to the previous year.
To ensure exclusive operation by Caixa, senator Paulo Paim (PT/RS) presented two amendments to PL 3626/2023 at Fenae’s request. Amendment 67 in the CAE proposes that federative entities reserve the operation of lotteries as a public service.
Meanwhile, Amendment 68 determines that Caixa Econômica has authorization to exclusively carry out physical bets through lottery licensees.
Senator Paim justifies this with Caixa’s experience and believes that it would be unfair to allow new gaming products without involving Caixa’s lottery operators.
Social impact of lotteries: the importance of cash in financing priority areas
Fenae defends Caixa’s exclusivity, supported by senator Paulo Paim’s amendments, to ensure that the resources generated by this new betting modality are directed to priority social areas, instead of private entities capitalizing.
