The number represents an increase of more than 13 times compared to the US$489 million bet in the first seven months of last year.
According to a survey by the Aposta Legal Brasil website, of the total wagered this year, US$ 1.5 billion was related to remuneration paid to betting houses located outside the country. In the same period, Brazil received US$ 5 billion in remittances that include prizes for winning bets.
For experts, the movement around the regulation of the Brazilian betting market and the increase in publicity on the topic have encouraged a greater volume of contributions. Numbers show an important potential for revenue from taxation.
The lawyer and vice-president of the OAB Nacional's Special Committee on the Law of Lottery, Sports and Entertainment Games, Milton Jordão, states that there has been a change in relation to Brazilians' view of the betting market in the last 5 years, since the approval of Law No. 13,756, of 2018.
“We came to understand that gambling can be a form of fun and, for some, even a form of earning money. You start to have a different vision than what you had before, and it is an extremely profitable market,” he comments.
He is concerned, however, that the tax burden provided for in Bill 3,626 could slow down this growth process and stimulate secondary and illegal betting markets.
The bill, which was approved by the Chamber of Deputies last week, provides for a fixed rate of 18% on the Gross Gaming Revenue (GGR) of bookmakers. Individual bettors are also expected to be taxed at 30%, with an exemption for amounts below R$2,211.
Aposta Legal Brasil was born in 2019, bringing specialized content on sports and betting, with the aim of promoting responsible gambling and offering Brazilians reliable and up-to-date information about the world of betting and the sector's regulatory process in the country.
The brand also covers six other countries, in 3 different languages: the Aposta Legal group has readers in Canada, Portugal, Peru, Mexico, Chile and India.
Source: Aposta Legal
