Brazil Chamber of Deputies approves gambling regulation bill

Brazil Chamber of Deputies approves gambling regulation bill

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Brazil Chamber of Deputies approves gambling regulation bill

The Chamber of Deputies of Brazil has recently approved the bill aiming to regulate gambling in the country.

This latest development in the regulation of the gambling industry in Brazil follows shortly after the bill underwent another voting round in the country’s parliament, through which senators were able to vote on a number of key aspects of the upcoming regulations. One of the voting session’s most noteworthy results included the approval of an amendment to regulate only the sports wagering sector, excluding online gambling and wagering on virtual sports from the bill.

However, the Chamber of Deputies approved a proposal to include gambling in the regulations with 261 in-favor votes and only 120 opposing ones. This means that if these laws go into effect unchanged, licensed gambling firms in Brazil will be able to offer gambling services to their players in addition to sports wagering opportunities.

Moreover, the Chamber also approved various monetary aspects of the bill, which included a 12% tax on gambling firms and a 15% tax on the winnings of players. The taxes collected from operators will be utilized in a variety of areas, such as education, sports, and others. The bill also approved the initial licensing cost of 30 million Brazilian real (6.13 million dollars) for operators, which will grant companies the ability to provide betting and gambling services in the country with three separate brands for a period of up to five years.

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