Proceeds for police, schools, sports clubs
Outgoing Brazilian President Michel Temer has approved legislation that greases the path to a legal framework for sports betting in the country. Provisional Measure 846/18 ratifies plans for the distribution of revenue raised by the national lottery, Loterias Caixa, and sets a two-year deadline for Congress to develop and pass sports betting controls; that deadline comes with a built-in extension of two more years.
The bill provides for both land-based and online sports betting. Land-based operators will be required to pay out 80 percent of the handle in winnings; give 2.5 percent to the National Public Security Force; give another 2 percent to football clubs; apportion 1 percent to public schools and 0.5 percent to Brazil’s social security fund.
Online companies will pay 89 percent of amounts wagered back to players as winnings, with 0.25 percent going to social security, 0.75 percent to schools, 1 percent to the FNSP and 1 percent to football clubs.
Temer will be succeeded in January by President-elect Jair Bolsonaro.
