He expects the inquiry to lead to drastic measures against those who organize and commit the manipulation, with new laws possibly arriving out of the review. In addition, the CPI will work closely with the federal police and the public prosecutor’s office to arrest anyone involved.<\/p>\n
A provisionary measure that would regulate the sports betting industry in Brazil is now in President Inacio Lula da Silva’s hands. The Ministry of Finance has delivered that final draft, which is awaiting the president’s signature.<\/p>\n
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The draft attempts to address all aspects of sports betting. Enforcement, however, might prove more complicated.<\/p>\n<\/div>\n
It stipulates that sportsbooks can only process deposits and withdrawals through bank accounts of institutions approved by the Central Bank and established in Brazil. In addition, it allocates 1% of operators’ revenue to the new Ministry of Sport.<\/p>\n
With the initial 15% tax on operators, this makes the effective tax rate 16%, which is 11% more than initial estimates. Whereas operators, under sports betting legislation from 2018, thought they would only give up 5%, the increase to 16% is significant.<\/p>\n
The percent of that tax revenue will go to the country’s Social Security program. Sports clubs and entities will share 1.63%, while another 2.55% is earmarked for Brazil’s national police force.<\/strong><\/p>\nThe text also prohibits advertising from unlicensed bookmakers. Finally, the measure prohibits players and club officials from placing bets. The same will apply to the sportsbooks’ employees, as well as minors under 18 and public officials.<\/p>\n
It’s possible that da Silva may sign the reforms at any moment. Once he does, and following a review by the Chamber of Deputies and Senate, they will enter a 60-day “soft launch.” If that goes smoothly, the measure will receive a 60-day extension toward becoming law.<\/p>\n","protected":false},"excerpt":{"rendered":"
The continuing saga of alleged match-fixing in Brazilian sports is forcing the government to take a detour from reforming the country. A parliamentary commission of inquiry (PCI) on sports betting is set to begin Tuesday in the Chamber of Deputies, with up to 34 legislators having a seat at the table. The PCI will investigate […]<\/p>\n","protected":false},"author":64,"featured_media":273667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81884,1074],"tags":[40,81904,82204,80968],"acf":[],"yoast_head":"\n
Brazil Launches Parliamentary Inquiry Over Match-Fixing in Sports - Casino.org<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n