The speculation regarding the regulatory model was made by Ricardo Galhardo in his column in Brasília Alta Frequência and reports that a draft of the regulation is ready and could be presented to President Lula even before his trip to China.
Fernando Haddad, Minister of Finance, said last week that the regulation of sports betting would be finalized and presented to Lula as soon as he returned from that trip. According to the Minister, only a few details were missing regarding the percentage of tax to be applied to bookmakers as well as the value of the licenses, which could be between R$ 20 million (US$ 3.8m) and 30 million (US$ 5.7m) for a period of five years.
In the column, the journalist points out that the best way would be a decree, since the matter was approved by Congress and only depends on regulation to come into force. Regulation is the first step towards taxing sports betting in Brazil.
He points out that according to data from the sector itself, there are around 3,000 sites operating bets in the country, with a movement of R$ 60 billion (US$ 11.4b) a year. With the regulation, the potential is R$ 72 billion (US$ 13.7b). It is estimated that the government can raise more than R$ 6 billion (US$1.14b) just by granting licenses.
The draft of the regulation proposal would be with the Attorney General of the National Treasury and could be presented later this week, before Lula and Haddad's trip to China. The Chief Executive will travel next Sunday (26), with a return scheduled for the 31st.
Source: GMB / Brasília Alta Frequência
