Bill on sports betting and online gambling approved by the Brazilian Chamber of Deputies

The Chamber of Deputies of the Brazilian Parliament last Wednesday approved a bill on sports betting and online gambling. The document will replace a temporary measure passed by President Luiz Inácio Lula da Silva in July this year.

The bill allows only companies registered under Brazilian law in the country to offer gambling.

A three-year operator's license will be available for 30 million Brazilian reais. The tax on sports betting revenues will be 18%.

Contributions on sports will amount to 6.63% of the licensees' income.  5% of the revenue will be allocated to the tourism industry, 2% to social security and 1.82% to education.

Only licensed operators will be able to advertise sports betting. At the same time, they will be prohibited from offering bonuses to customers.

Persons aged 18 and older will be able to bet. Payments of winnings for clients of online operators will be taxed at a rate of 30%.

The draft law has been sent to the Senate, which should vote on it within 45 days.