Gambling companies will be allowed to apply for a grant from public authorities ahead of securing a defined-term license to operate. The expected cost for a five year license is R$30 million ($6.3 million).
The decree also states that bettors must pay income tax at a rate of 30% if winnings on any bet are more than R$2,112 ($446).
The recent push to legalize sports betting follows the introduction of sports betting legislation by Brazil’s Minister of Finance Fernando Haddad. At the time, the minister said that he hoped the bill would prevent offshore sportsbooks from profiting.
Brazil's Regulated Sports Betting Industry Could Launch within Months Brazil's Regulated Sports Betting Industry Could Launch within Months Brazil's Regulated Sports Betting Industry Could Launch within MonthsThe investigation includes about 20 matches in Brazil’s first and second divisions, plus some local state leagues. At present 31 people have been charged including 15 players in the first and second divisions.
