Lula Da Silva signs off on Brazil sports betting law
Brazil’s president has vetoed certain parts of the bill.
Brasil.- The International Betting Integrity Association (IBIA) has welcomed Brazil’s passing of sports betting legislation. Approved by both chambers, the Senate and the Chamber of Deputies, Bill PL3626/23 received the signature of president Lula da Silva on Saturday (December 30).
The new law not only introduces a regulatory framework for sports betting but also includes the possibility of online casino gambling, an addition that had been in doubt due to the opposition of some senators and deputies belonging to the opposition and the evangelical bloc.
Lula has vetoed some parts of the bill, including a tax exemption for prizes of up to R$ 2,112 (€450). His vetoes must now be examined by the National Congress, which could maintain them or overrule them.
Brazil’s chamber of deputies approved the country’s sports betting bill by 261 votes to 120. Sports betting operators in Brazil will pay a tax rate of 12 per cent, and player prizes will be subject to a tax of 15 per cent. Five-year licences covering up to three brands will cost BRL 30m (€5.5m), and licensees must have a domiciled presence in the country.
“A major step forward in the fight against match-fixing”
IBIA CEO Khalid Ali said the launch of regulated sports betting in the South American giant would advance efforts against matchfixing.
He said: “This is an historic moment for sports betting in Brazil and is a major step forward in the fight against match-fixing. IBIA welcomes the adoption of specific betting integrity provisions in the law, which the association has been campaigning for since discussions on regulating sports betting began in 2018.”
He added: “A number of Brazilian market-focused operators have already joined IBIA, and we look forward to engaging with other operators intent on offering well-protected sports betting products to Brazilian consumers via IBIA’s world-leading integrity network.”
The IBIA said its network for monitoring and suspicious betting alerts would provide “accurate and detailed” intelligence on Brazilian sports betting to regulators, police and governing bodies.
Ali added: “We are committed to working more closely and sharing our expertise with the Brazilian regulatory authorities on the implementing regulation on integrity, as well as with sports and law enforcement to ensure we more effectively detect, deter and sanction sports betting-related match-fixing and fraud.
“By opening up the market to licensed sports betting operators Brazil is sending a very important message to other markets in Latin America that a dynamic and competitive regulated sports betting framework with strong integrity provisions is essential to the fight against sports betting-related match-fixing.”
