Tag Archives: Fernando Haddad

Developments to implement a federal sports betting regime in Brazil progress as members of the Ministry of Management and Innovation in Public Services (MGI) will meet with the Ministry of Finance to create a new ‘betting secretariat’ in charge of the funds raised from a regulated sector.  Finance Minister Fernando Haddad needs the approval of certain key figures in the …

The newly formed Brazil Institute for Responsible Gaming (IBJR) has warned the government that its proposed measures to regulate sports betting carry ‘unnecessary market risks’.  The new trade body – which formed this May and carries the membership of bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, NetBet Group, KTO Group, and Rei do Pitaco – has written to …

Arthur Lira, the President of Brazil’s Chamber of Deputies, has intervened in the process of regulating a federal sports betting regime. Representing the Lower House of Brazil, Lira has demanded that the government’s “provisional measure” to regulate sports betting be converted into a federal bill. Last week, Brazilian ministries received a “provisional measure” drafted by the Ministry of Finance, which …

Yesterday afternoon, Brazil’s federal government notified agencies of its imminent plans to publish provisional measures required to regulate a fixed-odds sports betting market.  Via SBCNoticias, further developments have been uncovered in relation to the regulatory development of Brazil’s pending sports betting regime, with measures drafted by the Ministry of Finance and due to be endorsed by President Lula da Silva. …

Brazil’s government is yet to settle on the final criteria of its pending tax framework for a federal sports betting regime.  As reported by local media, Sports Minister Ana Moser has put forward the ‘economic team on sports betting’ – a proposal to increase the gross gaming revenue (GGR) tax rate from 15%-to-16%. In her proposal, Moser recommended that the …

Addressing London’s LIDE ‘Brazil Business Leaders’ Conference on 21 April, Senate President Rodrigo Pacheco underscored the fiscal importance of implementing a federal sports betting regime.  The legalisation of sports betting was branded as a key component of President Lula da Silva’s ‘revenue strategy’, which aims to raise “potentially over RL100 bn ($18 bn) in 2023”. Pacheco revealed that the Senate …

The Confederation of Brazilian Football (CBF) has officially submitted its demands to the government on the pending legislation of a federal fixed-odds betting regime. As anticipated, the governing body of Brazilian football has demanded that the government increase its betting income guarantee to ‘4% of total revenues’ generated by licensed bookmakers. It declared, “Current legislation provides for the transfer of …

The industry sees progress on Brazil launching its long-awaited sports betting regime in 2022. Yet observing policy developments, Regulus Partners warns that lawmakers will regret adopting a  UK model to tax operators of a new marketplace. The Brazilian government has announced that it will ‘follow the UK model’ of online betting tax, applying a 15% GGR duty, explicitly to ensure …

A draft proposal co-signed by Brazil President Lula da Silva and Finance Minister Fernando Haddad has recommended that  a 15% gross gaming revenue (GGR) tax be applied to sports betting activities.  News of the proposal submitted to the Attorney General’s National Treasury Office (PGFN) was reported during the Easter break by Brazilian business news source Poder360. As reported, Lula and …

CBF, the Football Confederation of Brazil, has demanded that the government guarantee a larger % share of revenues generated from a federally sanctioned sports betting regime.  The CBF has issued its formal proposal that a ‘betting regime guarantee 4% share of gross revenues to be distributed across its football leagues’. As such, the governing body of pro-football in Brazil seeks …