Brazil To Legalize Online Sports Betting

17.04.2019, 17:49

Another South American country is now closer to legalizing gambling. Unlike recent events in Argentina, where only Buenos Aires legalized gambling, Brazil plans to reconsider many regulations and fully legalize gambling.

The industry was not fully banned previously, but was heavily restricted, which resulted in many illegal operations. Just now, the Senate has approved the respective bill. The only thing that remains now, however, is the signature of the current President. This could result in some issues, as the bill was signed in December by the former president, Michel Temer.

The bill considers both land-based sports betting parlors and online operators, which means that various players from other countries would be able to start entering the market soon. The competition would be massive, seeing the status of football in Brazil. 

As to the taxes, online gambling sites would have better rates, as they would be bound to 8% maximum revenue limit and 3% tax, as opposed to land-based parlors with 6% tax.

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