“There will therefore be a Joint Commission [for the analysis of the PM], already defined my name as president of this commission for having been the first senator to file a Bill for the regularization and taxation of the betting houses and the discussion on the manipulation of results,” Senator Jorge Kajuru, PSB leader in the Senate, told reporters.
The government published the PM that regulates sports betting in Brazil last June 25th. The rules are in force, but they must be analyzed within 120 days by the National Congress or they will lose their validity.
Kajuru indicated that the text of Lula's government must be modified, because he considers that the PM "failed" in the matter of manipulating the results of games. The congressman wants devices to that effect in the measure.
“The text pleased, but it remains to be discussed further, the question of bookmakers needs to be better punctuated and not just concerned with regularizing them and pricing them. There are more serious things involved,” said the senator. “Match-fixing has everything to do with bookmakers.”
PM on betting
In May, the Ministry of Finance decided to tax electronic sports betting companies on the so-called GGR (Gross Gaming Revenue), the income from games after the payment of prizes to bettors. The predicted taxation at the time was 16%, with 1% for the Ministry of Sport. But, according to the new PM, the percentage allocated to the body increased to 3%, raising the total to 18%.
The resources obtained from the taxation will be allocated as follows:
The PM modifies legislation (Law 13,756 of 2018) that regulates the exploration of fixed-quota bet lotteries by the government. Legislation determined that this was an exclusive public service of the Union, but the term "exclusive" was removed from the text.
The Ministry of Finance must still regulate the rules provided for in the PM. It will be up to the Ministry to set the value of the grant (the license to operate) of betting companies. The regulation should be done with the publication of ordinances. The Executive will also send a bill to Congress to address the structure and processes for overseeing the sports betting market.
The Ministry of Finance estimates that it will raise around R$ 2 billion (US$ 415m) in 2024 with the new rules for betting. For the coming years, with the market fully regulated and the growth of the segment, the annual revenue potential should be between R$ 6 billion (US$ 1.25bn) and R$ 12 billion (US$ 2.5bn).
Source: Poder360
