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 …
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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 …
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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 …
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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 …
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Betfair has launched ‘Esport Futuro‘ (Future Sports), its first Brazilian social initiative aimed at improving funding and community access to grassroots sports. The commitment has been launched with Betfair pledging to donate over R$630,000 (€120,000) to five sports associations in Brazil in 2023. Esport Futuro is formed in partnership with Global Giving, the international charity partner of Flutter Entertainment, and …
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Brazil’s sports betting prospects have received a boost this week, as Minister of Finance Fernando Haddad assured federal stakeholders that he will soon present a ‘provisional tax framework’ for licensed businesses. Speaking to media in Brasilia, Haddad stated confidence that the Finance Ministry would propose a ‘working framework’, to be showcased following “President Lula da Silva’s trip to China at …
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Fernando Haddad, Brazil’s Minister of Finance, has shared that the Presidency of Lula da Silva will focus on moving forward on “electronic gaming”, and sanction a sports betting regime. Yet, new details of a federal bill show that online casinos will not be included in upcoming plans. Sports news outlet Panorama Deportivo cited Ministry sources and explained what the regulation …
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