Brazil to require online sports betting firms to be based in the country
Wednesday 08 de March 2023 / 12:00
⏱ 1 min read
(Brazilia).- Brazil will require sports betting companies operating in the country to also be headquartered in Brazil, in addition to creating oversight mechanisms to curb fraud and manipulation of match results, its finance ministry said on Tuesday.
A law passed in 2018 allowed betting companies to operate in the country and they have surged in popularity since then, but the government says loose regulation has allowed the business to grow untaxed and lawless.
"The regulation will require that betting companies are based in Brazil," the ministry said in a statement, as most are based abroad, as well as "improving the supervision, collection and dialogue with the agents that operate in the sector."
It was unclear if opening a locally-headquartered subsidiary would be enough for a foreign-based firm to meet the requirement.
The moves, which include taxing the firms, are part of an effort announced by Finance Minister Fernando Haddad last week to boost fiscal revenue to offset increased social spending.
"Lack of regulation and collection of taxes also caused Brazil to fail to structure and maintain a monitoring network of suspicious behavior," the ministry added, saying it hopes the reform can help crack down on money-laundering, manipulated results and help penalize those responsible.
Two ministry sources said the measure could bolster public accounts by some 2 billion reais to 8 billion reais ($385 million to $1.54 billion) annually, though the calculations have not yet been finalized.
The ministry did not say how the business would be taxed or what the rates might be.
Cristiano Maschio, CEO of online gambling servicer Qesh, says some 12 billion reais is expected to change hands in sports betting this year, with more than 36 million people predicted to visit Brazil's betting sites.
Categoría:Sportsbook
Tags: Sports Betting, Sportsbook ,
País: Brazil
Región: South America
Event
BiS SiGMA South America 2026
06 de April 2026
Pay4Fun’s Leonardo Baptista on BiS SiGMA South America 2026: Regulation, Market Maturity and Brazil’s Expanding Opportunities
(São Paulo, SoloAzar Exclusive).-In this interview at BiS SiGMA South America 2026, Leonardo Baptista, CEO and co-founder of Pay4Fun, shares insights on the event’s strategic importance for the Latin American gaming industry. He highlights the growing maturity of regulatory discussions, the increasing focus on compliance and sustainability, and the expanding opportunities in Brazil—one of the most promising regulated markets globally.
Thursday 07 May 2026 / 12:00
Air Dice Strengthens LATAM Presence with BiS SiGMA São Paulo Trade Show
(São Paulo, SoloAzar Exclusive).- Erkki Nikunen, Partner & CBDO at Air Dice, discussed the company’s participation at BiS SiGMA São Paulo. In this exclusive conversation with SoloAzar, he shares insights on their experience as exhibitors, business opportunities generated, and the company’s vision for Brazil and the wider Latin American market.
Wednesday 06 May 2026 / 12:00
R. Franco Digital Sees Brazil as Key Pillar for LATAM Expansion at BiS SiGMA South America
(São Paulo, SoloAzar Exclusive).- At BiS SiGMA South America, R. Franco Digital highlighted Brazil’s vast growth potential and the importance of localized, innovative slot content for Latin American audiences. In this Q&A, Thiago Calmon, International Key Account Manager, reported high-quality meetings, new operator discussions, and reinforced partnerships—underscoring its long-term commitment to the region.
Wednesday 06 May 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
