Brazil’s Senate puts discussion on sports betting and iGaming on hold
The Brazilian Senate has done it again. A new way has been found to delay a vote on a sports betting and online gambling bill, further delaying a legislative process that has stalled the project.
Brazil’s Senate plenary is set to vote on Wednesday on a bill aimed at regulating fixed-odds sports betting and the online casino market. Instead, she decided to postpone the discussion again, according to an announcement on her website.
There is a glimmer of hope that the Senate can make progress and send the bill back to the House in November. That's no longer possible, and it's unclear when the Senate will hold a vote.
Anti-gambling senators continue blockade
The debate centered around whether the bill would include online casinos, which drew criticism from opposition senators in particular. The opposition claims the proposed law lacks adequate regulation of the online casino industry and has raised concerns about a lack of clear guidelines to oversee online gambling.
The bill’s rapporteur, Senator Angelo Coronel, believes that the online gambling sector has great potential to contribute to state revenue and therefore should not be excluded. The Finance Ministry estimates that the proposed legislation could generate about 2 billion reais ($407.6 million) in revenue for the government in 2024.
Responding to opposition concerns, Senate Vice President Senator Veneziano Vital Durego chaired the meeting in the absence of Senate President Rodrigo Pacheco. The latter is currently in Dubai for the 28th Conference of the Parties (COP 28), the United Nations climate change conference.
The Senate canceled the vote at the request of the opposition and has not set a specific date for resuming the voting process. The vote is expected to be added to the schedule when Pacheco returns next week.
The delay was one of many implemented by the Senate, causing concern for the government as the bill is a key priority for the economic team in its efforts to raise revenue in 2024.
More debates ahead
Coronel made several changes to the proposal. If the text is approved by the Senate, it must undergo further review and approval by the House of Representatives.
The bill proposes a 12% tax on sports betting operators, up from the previous 18%. Additionally, a 15% income tax on bettors’ net winnings is also proposed. This amount is deducted annually and only applies to income above the tax-free limit of 2,112 reais ($430).
Additionally, the project outlines the development of advertising regulations in the sports betting and iGaming sectors. Overseeing the development of advertising regulations will be the responsibility of the Treasury, which will also oversee all betting and gambling activities.
Legislative discussions have resurfaced in Parliament as part of a parliamentary inquiry committee looking into the sports betting market. Previous investigations have uncovered evidence that gambling and other companies deliberately manipulated the results of football matches.
This investigation, as well as that of Brazilian authorities, remains ongoing. Several football players have been identified as participants in the scheme. But more names may emerge in the coming weeks.
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Source: www.casino.org
