Closer to the end of December 2023, Brazil's Chamber of Deputies endorsed draft law 3.626/23 aimed at wagering regulation. The politicians also included internet casino offerings in the bill. The text was passed to the country’s President for sanctioning.
Details of the Approved Proposal
The new legislation saw a complicated path until official acceptance. The opposition was quite fierce in attempts to prevent endorsing the initiative. However, the Chamber’s President defended the proposed norms. Arthur Lira argued that with no regulation, the gambling segment in the state would continue to exist but in a harmful and non-beneficial way.
It would evoke the development of a black market and ludomania risks, as well as the loss of funds for the country. The lawyer also emphasised that the accepted standards are aimed at combating money-laundering operations and similar illegal activities.
The initial elimination of online games from the bill led to dissatisfaction from the niche and the federal government’s representatives. That was mainly caused by a potential decrease of up to 70% in revenue.
Here are the core points of the approved proposal:
- 12% tax on operators' GGR;
- 15% fee on players' wins of over $ 433;
- obligatory protection tools like facial recognition;
- advertisements that warn about potential gambling risks;
- at least one Brazilian stakeholder with 20% or more of shares;
- restrictions for minors, addicts, and industry figures (sportsmen, referees, etc.).
In the end, the bill was supported by 292 lawmakers while 114 deputies voted against the initiative.
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