The Federal Government intends to publish, within this month, the sports betting PM that will establish the norms for the practice of the sport in Brazilian territory. The proposal of the Ministry of Economy is to grant a period of 180 days for companies that operate in this sector to present all the documentation required to regularize their activities in the country.
The said folder will have an additional 30 days to respond to requests made by companies. If these deadlines – which are currently just projects – are fully met, this implies that in 2024 there will be regulation of this market.
Such regulation will be quite different from the current situation, where several companies operate in Brazil, but have their headquarters in other countries. According to information obtained by ge through sources, the revelations of the Maximum Penalty Operation, which pointed out signs of manipulation in 2022 Series A matches, serve to highlight the urgency of regulating sports betting in Brazil.
The PM-GO, through Operation Penalty Maximum, detained three individuals accused of bribing players with the aim of manufacturing bids (such as corner kicks, yellow or red cards) in matches of the Brazilian Championship and several state championships.
With prior knowledge of the unfolding of the matches, those involved made bets of millionaire values. According to PM-GO, offers for athletes ranged from R$50,000 to R$100,000 per manipulated match.
Sports betting PM – licenses to operate in Brazil will cost R$ 30 million
In addition to having to comply with various requirements, including a 15% tax on profits, companies wishing to operate in Brazil will have to pay a licensing fee of R$30 million. According to individuals familiar with the situation, interviewed by ge, this sports betting PM may result in a reduction in the number of companies operating in this market.
This is one of the main concerns of the clubs, which last week met in Brasília with technicians from the Ministry of Finance to present their points of view. The directors highlighted that the sports betting sector moves around BRL 3 billion annually in sponsorships and made it clear that they are afraid of losing part of that amount with the regulation.
