ICE VOX 2024
Ordem e Progresso? Analysing the New Regulatory Environment for Gaming in Brazil
After years of delay, sports betting is now legal in Brazil after President Luiz Inácio Lula da Silva signed the Provisional Measure, in anticipation of a more permanent bill on regulating both betting and, even more interestingly, online casinos. With 214 million people, and 42.5 million already engaged players, Brazil is one of the largest markets in the world, however, now operators must confront several challenges. Foremost among these is the proposed burden of up to a 30.82% tax rate, and a stringent regulatory framework, which prohibits bonuses, taxes player winnings over $400 and imposes payments restrictions. What does this mean for local and international operators wanting to launch in the continent’s biggest new market?
• Unpacking the complexities: The eligibility and application process for Brazilian gambling licences.
• Fees, taxation and regulatory standards for operators: Will high tax rates, and a rumoured BR$30 million licence deter international operators?
• Chasing lower costs: The legal loopholes that allow companies to operate at the state level but accept customers from all over Brazil.