The Plenary Session of the Brazilian Senate approved this Tuesday the basic text of bill 3626/2023 that regulates fixed-odd sports betting or 'bets', which will return to the Chamber of Deputies for analysis, as it has undergone fundamental changes by the senators.
The report by senator Angelo Coronel (PSD-BA) also included virtual games, such as online casinos. However, the opposition moved and managed to eliminate this section of the text, by 37 votes to 27. Therefore, the proposal will only be valid for bets on real events when it is defined, at the time of bidding, how much the player can win if he accepts the guess.
Everyone wants with Brazil, almost!
Sports betting, despite being legalized since 2018, is still not taxed by the Federal Government. Therefore, the sports betting PL is one of the Ministry of Finance ‘s priorities.
In the plenary session, three highlights of the report presented by Senator Angelo Coronel were voted on, of which two were approved. With 37 votes in favor and 27 against, the senators included an amendment by Carlos Portinho that limits the scope of the project to games based on real events, excluding online casino games and online events not linked to sports matches.
To promote sporting integrity, the participation of people with significant influence or employees of the betting operating company, public agents with functions directly related to the regulation and supervision of the activity, people who have or may have access to the betting systems will be prohibited. bets, and any person who has or may have influence on the outcome of the lottery event, such as the athletes themselves and other direct actors.
An amendment by Senator Tereza Cristina, which excludes the installation of physical sports betting terminals from the project, was also accepted with 45 votes in favor and 23 against. With 36 votes in favor and 25 against, the senators decided to maintain the advertising of betting in sports venues and the sponsorship of gambling houses for athletes. Senator Eduardo Girão presented the amendment that prohibited these practices, but it ended up being rejected.
The text of the PL stipulates that bets on the results of real sporting events - such as football and volleyball matches - will be taxed. A 12% tax on operators' income is planned. The original proposal intended to charge 18%, but the rate was reduced by Senator Coronel in his report approved by the Senate Economic Affairs Committee 3 weeks ago. In addition, bettors will pay a 15% tax on the winnings they exceed the Income Tax exemption, currently 2,112 reais. In the initial proposal of the Executive Branch the figure was 30%.
Companies will also have to pay a subsidy of up to 30 million reais to legally operate up to 3 trademarks for 5 years. The original text stipulated renewal every 3 years. In addition, they must have a Brazilian partner who owns at least 20% of the company's capital in Brazil.
