Brazil has moved another significant step closer to both sports betting and igaming regulation after a key vote on Thursday.
Brazil’s Chamber of Deputies signed off the amendments to Bill 3626/23, which regulates online sports betting and which had been amended by the Senate Plenary.
Online casinos, which have proved a divisive element of the regulatory discussions in Brazil over recent months, had been removed by the Senate Plenary.
However, as reported by Agência Câmara Notícias, the Chamber of Deputies used its power to overrule the Senate Plenary and include igaming.
The president of the Chamber of Deputies, Arthur Lira, said: “If we simply don't vote on the regulations, will games cease to exist? People stop playing, bets stop working and sponsoring teams, events and tournaments? No.
"Here we are not increasing or decreasing, we are trying to regulate and give seriousness [to the sector] to avoid, for example, money laundering."
As previously reported, the sports betting tax rate has been reduced from 18 per cent to 12 per cent.
The regulation, which is seen as a key factor in helping the government tackle its budget deficit concerns, has been passed to President Luiz Inácio Lula da Silva’s desk for signing.
