Brazil’s Senate has progressed draft legislation 671-2015 which will look to introduce regulatory provisions and a national framework for fixed odds sports betting.
Current Brazilian gambling legislation allows for wagering on land based lottery, bingo and licensed horse racing events.
Brazilian media sources have commented that the draft legislation was progressed due to the Senate’s raising concerns regarding the popularity of online betting services operated by remote companies. Furthermore Senate members stated that at present Brazil did not have any regulatory provisions to combat illegal betting sites targeting its consumers.
Having progressed in the Senate, the draft legislation awaits to be sanctioned by President Dilma Rousseff. As yet the full details of the betting legislation and its framework are unknown, however it is likely that Brazil will begin to allow foreign operators to submit applications for licenses.
At Present no details have been presented on tax and licensing charges regarding market entry. Prior attempts to introduce online gambling and betting framework have divided opinion on creating national policy.
In September 2014 the draft legislation introduced by Senator Ciro Nogueira had emphasised that operators seeking to enter the Brazilian igaming market, must have physical operations within the region regardless of the operator’s listed country of origin. Opposing senators have stated that Brazil should look to develop a European style framework