BRINGING GAMBLING TO BRAZIL: THE LATEST DEVELOPMENTS
Legalization of Casinos and Bingo Advances in Brazil
In a bold move, Brazil is stepping into the world of gambling, with Senator Irajá deeming it a lucrative opportunity for the country, as reported by iGB.
"We can't afford to overlook this gold mine that our rival nations have already tapped into, creating jobs, boosting revenues, and enhancing key sectors like healthcare, education, and infrastructure for Brazilians," he boldly declared.
The recent bill under consideration in the Senate lays out the rules for casinos, betting machines, bingo, horse racing, and the taxation of these activities. Companies would be taxed a fee based on their gross income and type, with casinos shelling out $100,000 every three months, bingo operators around $3,700, and a 17% tax on casinos' gross income. Winnings exceeding $1,700 would also be taxed at a rate of 20%.
Casinos would be permitted to operate in tourist centers and entertainment complexes, with a minimum of 100 rooms. They could also set up shop on cruise liners with at least 50 cabins. Each state or federal district can have only one casino, with exceptions like São Paulo, which can accommodate up to three.
Bingo offices can sprout up in every municipality, with multiple offices allowed in large cities as long as there's one office per 150,000 residents. Licensees can operate for 25 years with the option to renew. The bill also limits the number of horse racing organizers to one per 700,000 residents.
The bill also proposes a register of problematic players, known as Renapro, for land-based operators. Violators could face up to seven years in prison for manipulating game results or advertising unlicensed games.
It's worth mentioning that President Luiz da Silva signed a bill legalizing sports betting and online casino games in December 2021, which is set to become legal by July 2023. However, the exact timeline for the first gambling license application remains unclear.
GET READY, GIANTS: BRAZIL'S GAMBLING MARKET AWAITS
With Brazil stepping into the regulated gambling industry, leading players are beginning to eye the lucrative potential of the country. As the rules and regulations fall into place, it's a matter of time before the Brazilian gambling market becomes a battleground for global giants. (Note: The information about the first gambling license application is still unavailable.)
VERIFICATION FOR SPORTS BETTORS IN BRAZIL: BIOMETRIC BOOST
As part of the legalization process, sports bettors in Brazil will soon undergo biometric verification to ensure a safer and more secure betting environment. (Note: No specific details are currently available regarding the implementation timeline or specific mechanisms for biometric verification.)
REFERENCES
- "Brazil legally allows casino gambling" (GGRASIA), April 7, 2022. www.ggbrazil.com.br/brazil-legally-allows-casino-gambling
- "Brazilian Senate Approves Bill Regulating Gambling" (iGB Affiliate), April 7, 2022. www.igbaffiliate.com/brazilian-senate-approves-bill-regulating-gambling
- "Brazil Betting Control Bill" (IGA), 2023. www.iga.com/brazil-betting-control-bill
- "What about taxes for the newly proposed casinos in Brazil?"
- "It seems that the Brazilian senator is advocating for legalized casinos and sports betting, considering them a potential gold mine for the country."
- "Are Brazilian citizens allowed to participate in sports betting now that the bill has been proposed?"
