Official statement from the Brazilian Institute of Responsible Gaming (IBJR)
The week ends with another important step towards ensuring a sustainable, safe, and fair Brazilian betting market for operators, government, and society: the overturning of the two presidential vetoes to Law 14,790/23, passed in December.
The vetoes addressed a crucial issue for the viability and channeling of the local market: the taxation of bettors' prizes. With the vetoes overturned, the law returns to its original text, which follows IBJR's recommendations based on studies of best practices applied abroad, establishing the annual taxation and exemption of income tax on amounts below the first bracket of the progressive tax table (R$ 2,259.20).
With this, IBJR celebrates the solidification of fairer taxation for Brazilian bettors, which will keep them closer to the legalized market and with a variety of entertainment products at their disposal.
Brazil wins, betting houses win, and bettors win.
Brazilian Institute of Responsible Gaming
The Brazilian Institute of Responsible Gaming (IBJR) was founded with the aim of fostering debate on the regulation of this segment in Brazil, contributing information to advocate for the creation of clear rules and guidelines so that sports betting companies can operate legally, protecting the interests of players and civil society.
There are 11 member international sports betting operators (bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group, Novibet, LeoVegas and Kaizen Gaming), one fantasy games company (Rei do Pitaco), three payment solutions providers (Pay4Fun, Grupo OKTO and OneKey Payments), one media group (Better Collective), the agency Clever Advertising, the digital and sports marketing company Volta Pra Marcar, and the anti-fraud solutions company, GeoComply.
Source: GMB
