{"id":101196,"date":"2023-03-27T10:48:46","date_gmt":"2023-03-27T13:48:46","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2023\/03\/27\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\/"},"modified":"2023-03-27T10:50:23","modified_gmt":"2023-03-27T13:50:23","slug":"sports-betting-sector-already-moves-around-brl-120-billion-per-year","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2023\/03\/27\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\/","title":{"rendered":"Sports betting sector already moves around BRL 120 billion per year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u201cBrazil is a country where people are very fond of football. And with the popularization of <strong><a href=\"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"Sports Betting\">sports betting<\/a><\/strong>, now people are cheering and betting too\u201d, said Magnho Jos\u00e9, president of the Instituto Brasileiro Jogo Legal (IJL). It is estimated that approximately 25 million Brazilians bet weekly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today, Cuiab\u00e1 is the only team in S\u00e9rie A of the Brasileir\u00e3o that is not sponsored by betting companies. In addition to club uniforms, bookmakers appear in TV advertisements, portals, lawn signs, team shirts and social networks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe estimate that the movement in this market is already at R$ 120 billion, in gross values. Within this scenario, R$ 12 billion is being used to pay for the media and guarantee the profitability of the operations\u201d, says Magnho Jos\u00e9.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Expectation for regulation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/igamingbrazil.com\/en\/legislation-en\/2023\/03\/20\/sports-betting-taxation-is-keeping-haddad-up-at-night\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ministry of Finance<\/a> has already informed that it will soon regulate and tax the segment, according to Minister Fernando Haddad at the beginning of the month. <a href=\"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"Sports Betting\">Sports betting<\/a> was legalized in the country by law 13.756\/18, in December 2018, by then-President Michel Temer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The law provided for two years for regulation, but the Bolsonaro government did not meet the deadline. The platforms continue to operate in Brazil, but with representations abroad and not being taxed by the government.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe omission generated an explosion in the offer of unregulated gambling\u201d, observes Magnho Jos\u00e9. The estimate, according to Jos\u00e9, is that there are more than 1,000 sites operating in the country. \u201cThe street betting stands can&#8217;t even scale. But today we have practically 90% of the market in the hands of 7 to 8 larger companies\u201d, he explains.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a note, the Ministry of Finance informed that a Provisional Measure on the sector will be forwarded to the Civil House. There are still no estimated dates. The MP will allow the ministry to initiate the regulation of the activity, regulating all the requirements for the operation of the sites, rules of taxation, advertising, inspection of sporting and financial integrity of betting in the country.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOnly companies that are financially healthy and able to operate within the rules will be able to stay. A series of regulations will establish requirements, including to prevent the houses from being used to launder money&#8221;, stressed the president of the IJL.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A recent survey carried out by Instituto Paran\u00e1 Pesquisas showed that 55.2% of Brazilians are in favor of taxing online gambling.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sports betting companies and taxation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cFor players, it is even greater security to know that they are with a licensed company; it is a serious company. We are in favor of regulation, but we are waiting to see how the government will work on this issue of taxation. Let it not be a taxation that inhibits the market itself, as we had in France\u201d, explained EstrelaBet\u2019s business director, Fellipe Fraga.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In France, taxation is 2% on the gross value, which is equivalent to approximately 35% on the net value of homes \u2014 a rate considered high in the sector. \u201cI believe that Brazil will adopt a more intelligent measure than that\u201d, observes Fraga.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Marcos Sabi\u00e1, CEO of Galera.bet, says that after the regulation, investments will increase in Brazil. \u201cWe will bring technology structures, which will be important for job creation and knowledge transfer. We want a long-term relationship with the country\u201d, he details. Sabi\u00e1 explains that the current legal limbo ends up leading companies to operate abroad.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Galera.bet is part of the Associa\u00e7\u00e3o Nacional de Jogos e <a href=\"https:\/\/igamingbrazil.com\/loteria\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Loterias\">Loterias<\/a> (ANJL), created on March 15th to represent <strong>bookmakers<\/strong> in Brazil and promote good practices in the sector, such as responsible gaming, protection of user data and prevention of practices illicit on the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cBrazil is a country where people are very fond of football. And with the popularization of sports betting, now people are cheering and betting too\u201d, said Magnho Jos\u00e9, president of [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":101177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2831],"tags":[6393,12268,3114],"class_list":["post-101196","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports-betting-en","tag-betting-regulation-en","tag-magnho-jose-en","tag-sports-betting-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sports betting sector already moves around BRL 120 billion per year - iGaming Brazil<\/title>\n<meta name=\"description\" content=\"\u201cBrazil is a country where people are very fond of football. 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And with the popularization of sports betting, now people are cheering and betting too\u201d.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/igamingbrazil.com\/en\/sports-betting-en\/2023\/03\/27\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\/\" \/>\n<meta property=\"og:site_name\" content=\"iGaming Brazil\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/igamingbrazil\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-27T13:48:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-27T13:50:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/igamingbrazil.com\/wp-content\/uploads\/2023\/03\/Setor-de-apostas-esportivas-ja-movimenta-cerca-de-R-120-bilhoes-por-ano.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"696\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cristina Possamai\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@iGamingBrazil\" \/>\n<meta name=\"twitter:site\" content=\"@iGamingBrazil\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cristina Possamai\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/\"},\"author\":{\"name\":\"Cristina Possamai\",\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/#\\\/schema\\\/person\\\/eabb78166341908c4775beaf4abda609\"},\"headline\":\"Sports betting sector already moves around BRL 120 billion per year\",\"datePublished\":\"2023-03-27T13:48:46+00:00\",\"dateModified\":\"2023-03-27T13:50:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/\"},\"wordCount\":608,\"publisher\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/igamingbrazil.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Setor-de-apostas-esportivas-ja-movimenta-cerca-de-R-120-bilhoes-por-ano.jpg\",\"keywords\":[\"Betting Regulation\",\"Magnho Jos\u00e9\",\"Sports Betting\"],\"articleSection\":[\"Sports Betting\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/\",\"url\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/\",\"name\":\"Sports betting sector already moves around BRL 120 billion per year - iGaming Brazil\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/igamingbrazil.com\\\/en\\\/sports-betting-en\\\/2023\\\/03\\\/27\\\/sports-betting-sector-already-moves-around-brl-120-billion-per-year\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/igamingbrazil.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Setor-de-apostas-esportivas-ja-movimenta-cerca-de-R-120-bilhoes-por-ano.jpg\",\"datePublished\":\"2023-03-27T13:48:46+00:00\",\"dateModified\":\"2023-03-27T13:50:23+00:00\",\"description\":\"\u201cBrazil is a country where people are very fond of football. 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