Brazil’s sports betting regulations are complete and are awaiting the signature of Lula da Silva

In an interview with CBN radio on Friday (May 5), Finance Minister Fernando Haddad announced that Brazil’s federal sports betting regulations have been completed and have been forwarded to the Civil House for analysis and the signature of President Lula da Silva upon his return from attending the coronation of Charles III in London.

Haddad stated that while technical adjustments may be made, negotiations between the Treasury and Civil House have been completed to ensure the document is finalized quickly and analyzed by Lula upon his return. He further noted that the government studied the experiences and practices of countries where sports betting is regulated to create a uniform solution.

Senator Jorge Kajuru provided information that Lula will present the proposal to the National Congress, with the provisional measure taking effect immediately but requiring the approval of deputies and senators within 120 days.

After negotiations with Minister of Sport Ana Moser, the original measure has been revised to increase the tax rate on income obtained less prizes from 15% to 16%, with the additional amount going to the Sports Ministry to promote grassroots sports.