Brazil’s gamblers are anxiously watching the progress of a piece of lottery reform legislation that could legalize online and land-based sports betting.
On Wednesday, a joint committee of Brazil’s bicameral legislature approved an amended version of Provisional Measure (PM) 846/2018 (in Portuguese, with betting talk in Chapter V), which details how lottery revenue will be split among public security, cultural and social programs.
The bill would also authorize the Ministry of Finance to oversee both land-based and online fixed-odds sports betting within “a competitive environment.” Assuming legislators approve the measure, the Ministry would have two years in which to license and regulate wagering activity.
The bill’s text requires land-based betting operators to pay out at least 82% of their wagering handle in winnings to bettors and taxes on those winnings, plus a further 4% to a group comprising sports bodies, social security, schools and Brazil’s National Public Security Force. Operators’ expenses can’t top 14% of handle.