New sports betting regulations have been approved by the Brazilian Chamber of Deputies, one of two chambers that make up Brazil’s Congress, and sent to the Senate for signoff.
Modifications to the bill were proposed by Congressman Moses Rodrigues, who said, “The goal is to improve sports legislation by changing the tax base to GGR,” the congressmen explained. The tax collection from physical and virtual sports betting operations will be used to pay bonuses and redirect money to social security, health and education.”
Most of the money raised by taxation of sports betting will be used to set up the governmental regulatory body that will be created by the legislation.
Recently Rio de Janeiro began incorporating sports betting into the Loteria do Estado do Rio de Janeiro i.e. the Loteri. It has asked for bids from companies that can create betting and lottery products online and retail.
