Brazil's Latest Authority on Gambling Operations to Hire Law Enforcement Personnel
A recent match-fixing scandal in Brazil, along with the introduction of legalized sports betting, has brought about some changes. One of these changes is the formation of a new government agency - the National Secretariat of Prizes and Bets (SNPA) - to monitor and oversee gambling.
This new agency will work towards ensuring standards are met in the realm of gambling and betting, and play a key role in combating illegal operations. The SNPA will answer directly to the Ministry of Finance, with the current minister, Fernando Haddad, being one of the authors of the provisional measure for sports betting regulation. It's anticipated that this agency will create jobs not only for federal police officers and financial investigators, but for many others.
Embracing a New Era of Brazilian Gambling
This new watchdog will comprise four divisions: Accreditation, Supervision, Vigilance, and Sanctions. A minimum of 54 positions have been identified for this organization, with openings for an additional number still being debated within the Ministry of Finance.
The SNPA will initiate operations with an estimated initial budget of BRL4 million (US$815,000), to cover expenditures for equipment and staff. At launch, it will count police officers from the Federal Police as part of its team, as well as members of the Council for Financial Control (COAF). There's been no clarification as to whether the salaries of these personnel will come from the SNPA's budget or their respective government departments.
By including law enforcement officers, the SNPA will have the support of the police force when it needs to break up an illegal gambling operation. COAF members, on the other hand, will have direct access to financial information, enabling them todetect and prevent money laundering.
The SNPA will collaborate with other government entities in the effort to uncover unlawful activity in sports, aiding Brazil in shaping its legitimate sports betting industry. The betting scandal has spread to FIFA, with the Brazilian Football Confederation petitioning that any Brazilian player be banned from playing at a global level.
High Taxes and Fees Unhurtful
The bill regulating sports betting in Brazil set a tax rate of 18% on gross gaming revenue, higher than the original 5% expected by both gambling operators and some lawmakers. Despite this, interest in entering this market has not waned.
The price of a sports betting license in Brazil is set at BRL30 million (US$6 million). So far, at least 70 companies have indicated their plan to apply for a license, with the possibility of grants spanning five to ten years.
The government anticipates earning an estimated revenue of BRL2 billion (US$407 million) from regulated gambling in 2024. Projections show the potential for this value to grow over the years, with the most optimistic estimate suggesting a five-fold increase.
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Source: www.casino.org
