Zona de Zona de Azar Brasil – Brazil: Senator Criticizes Ministry of Finance for the Delay in Revenue from Bets

Brazil.- May 6, 2024 www.zonadeazar.com Senator Angelo Coronel (PSB-BA), rapporteur of the Bill that regulated sports betting and online gaming in the Senate, criticized the Ministry of Finance’s delay in starting the collection of bets.

In an interview with Metrópoles, he stated that there is “slowness” on the part of the Government in collecting grants for operating licenses. The estimate is that R$5 billion will enter the public coffers with the authorizations.

“It’s been slow. If the government wants money, we approve the bets in December. It’s been four months and we don’t have a position to make this demand”, criticized the senator in an interview with Metrópoles.

In the parliamentarian’s view, this is a possible source of compensation to finance the payroll tax relief for 17 sectors of the economy and small municipalities, which is being judicialized.

The law that regulated the betting market was sanctioned at the end of 2023, but only last week was the head of the Prizes and Betting Secretariat appointed, the Treasury body responsible for registering and supervising betting operators.

“It’s a contradiction. [The economic team] wants money, has the source and does not operate the source”, considered senator Angelo Coronel. “In the case of bets, it is not due to a lack of will from Congress, which approved it urgently and has had four months without the government putting it into operation.” He hopes that the new Secretary of Prizes and Betting, Regis Dudena, will speed up the regulation.

In addition to the grants, 12% will be charged on the bookmakers’ revenue. The rate will apply to the so-called GGR (gross gaming revenue), which is the revenue obtained from games, minus the prizes paid to bettors. Bettors must pay 15% of the amount obtained from the prize in this type of bet.

This is another of the fundraising measures designed last year by the Minister of Finance, Fernando Haddad, with the aim of helping the government meet the target of zero fiscal deficit in 2024.

What the Treasury says

The Treasury is responsible for regulating various topics related to the fixed-odd betting lottery. At the moment, the Prizes and Bets Secretariat prioritizes the regulation that will regulate the rules and conditions for obtaining authorization to explore the market in Brazil. Source: Metropolises

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