The set of regulations aims to guide the operations of bookmakers in Brazil, offering legal certainty and support to their customers.
According to the government, only licensed companies will be allowed to accept bets related to official sporting events organized by federations, leagues and confederations. This will guarantee betting operators greater legal certainty, access to advertising media and easier access to their Brazilian clients.
The Ministry of Finance said that the provisional measure provides for the creation of a secretariat within the ministry responsible for assessing the accreditation of betting companies in the country. This secretariat will also monitor the volume of bets and revenue, providing more effective control over the fixed-odds sports betting market.
As for the taxation of bets, the Ministry of Finance has established that companies will be taxed at 16% on the "Gross Gaming Revenue (GGR)", which is the revenue obtained from all bets, minus the prizes paid to players. In addition, there will be a 30% income tax on the prize received by the bettor, with an exemption of R$2,112.00.
Now that you know about the government's proposal, we've separated out some very important topics for you to know when placing your sports bets:
As proposed, winnings can be redeemed in two ways: by crediting bookmakers' virtual wallets or through deposits made by transfers, credits, remittances or payment of ownership in accounts held at financial institutions authorized by the Central Bank.
Another essential advantage is the legal certainty that will be granted to bettors in relation to bookmakers. Currently, Brazilian bettors lack any legal protection. The implementation of
regulations would clearly establish the rights of bettors and the procedures for exercising them.
A regulated market offers the possibility of supervising bookmakers' advertising, which discourages irresponsible promotion of gambling. This makes it possible to promote serious and professional brands and, at the same time, encourages responsible gambling.
Finally, regulation would establish a framework for raising awareness about gambling and pave the way for the implementation of public policies aimed at tackling the challenges associated with gambling.
For you, the bookmaker, regulation brings significant benefits, offering a safer and more reliable environment for both punters and the companies in the sector themselves. Want to find out more about how your company can benefit from this regulation and profit even more? Visit this link to talk to our expert team:
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