Is Online Betting Legal in Brazil?
December 12, 2018. This is the day when Brazil’s ex-president, Michel Temer signed into law bill No.13,756 2018 after its approval by Provisional Measure No.846/2018 only three weeks back on November 20, 2018. It is important to note that this law has opened doors for fixed-odds sports betting and thereby making Brazil one of the world’s largest legal gambling markets valued at around BRL55bn by The Institute of Legal Gambling in Brazil (Instituto Jogo).
Definitely, the tax was actually what made the government legalize betting in sports.
Originally, there was a plan to restrict betting licenses to thirty for land-based and online operators. None has however been issued so far. The COVID-19 pandemic saw the government shift its attention towards health issues while the legal structure of a regulated market is yet to be completed after sports betting got included in Brazil’s ambitious national privatization plan.
What we know is that Brazilian sports betting sites will be charged a 1% tax on their turnover. It is expected that gamblers will pay 13.8% of the sum over R$1,900 won in taxes, which conforms to those imposed by the lottery in this country. There is an anticipation that the legal age for online gambling on sports events would be eighteen years old. We shall keep you posted as we get more details about the situation with sports betting in Brazil.