Brazil’s government has produced its first draft of regulations for sports betting, according to Games Magazine Brasil.
The regulations produced by the Ministry of Economy show that operators will be required to pay a one-off licence fee of R$3m (£595k), with retail locations paying $20,000 per month and online operators $30,000. There is no limit on the number of licences offered in Brazil.
A month-long consultation arrived at a suggested tax scheme of one per cent of turnover, equating to up to between five and seven per cent GGR.
Companies will also need to have financial reserves of at least $6m, serving as a guarantee of payment of prizes to players.
Firms will also have to have their own financial reserve of at least $6m. This amount will serve as a guarantee for the payment of prizes to players.