Recently, we have provided our overview on the latest amendments of Bill No. 3626, discussed current challenges, highlighted Senate modifications, and explored potential implications for online gambling, taxation, licensing terms, fees, and more (in case you missed it, catch up here: https://4h.agency/everything-else/tpost/ofdlmvn3e1-navigating-brazils-evolving-gambling-lan).
In line with expectations of the gambling community the Brazilian Federate Senate (Chamber of Deputies) finalized its hearing on Bill No. 3626, of 2023, this Friday (22.12.2023).
This Bill’s approval states the good news for Brazilian online gambling market, since despite the previous amendments by the Senate Plenary, which strictly cutted down the Bill applicability in other verticals rather than betting, the Senate returned the regulation of online gambling (betting on “virtual online gaming events” and online casino-style games).
As it was reviewed by us the last time, the most important provisions remained untouched and approved, i.e. taxes (15% on winnings and 12% on GGR, including the novelty with fantasy sport), license term (five years), license fee (approx. 6,1m USD), monthly supervision fee for fixed-odd betting (from approx. 11,000 USD to 400,000 USD, tied to revenue), and other points regarding advertisement regulations, betting identification system, the transition period, local ownership, etc.
Now, this finalized and approved draft on the Bill will be sent to the President’s Office, who may either sign the bill into law or veto it. Most likely, this will happen in the first months of 2024 and the new regulation will come into force, which will undoubtedly have a good impact on the development and attractiveness of the Brazilian gambling market for new operators.
In line with expectations of the gambling community the Brazilian Federate Senate (Chamber of Deputies) finalized its hearing on Bill No. 3626, of 2023, this Friday (22.12.2023).
This Bill’s approval states the good news for Brazilian online gambling market, since despite the previous amendments by the Senate Plenary, which strictly cutted down the Bill applicability in other verticals rather than betting, the Senate returned the regulation of online gambling (betting on “virtual online gaming events” and online casino-style games).
As it was reviewed by us the last time, the most important provisions remained untouched and approved, i.e. taxes (15% on winnings and 12% on GGR, including the novelty with fantasy sport), license term (five years), license fee (approx. 6,1m USD), monthly supervision fee for fixed-odd betting (from approx. 11,000 USD to 400,000 USD, tied to revenue), and other points regarding advertisement regulations, betting identification system, the transition period, local ownership, etc.
Now, this finalized and approved draft on the Bill will be sent to the President’s Office, who may either sign the bill into law or veto it. Most likely, this will happen in the first months of 2024 and the new regulation will come into force, which will undoubtedly have a good impact on the development and attractiveness of the Brazilian gambling market for new operators.
