What is the gambling law in Brazil?
The main gambling law in Brazil is Law No. 14,790, sanctioned on December 30, 2023. This law represents a significant milestone in the country's approach to gambling, as it officially legalizes and regulates fixed-odds sports betting and online casino games. Prior to this law, gambling was largely prohibited in Brazil for decades, with the exception of state-run lotteries.
The key regulations introduced by Law No. 14,790/2023 include the requirement for operators to be established and administered within Brazil to obtain a license from the Ministry of Finance. The law also establishes a comprehensive tax structure, imposing a 12% tax on the Gross Gaming Revenue (GGR) of operators and a 15% income tax on players' net winnings exceeding BRL 2,112 annually.
Furthermore, the law sets forth a series of provisions aimed at ensuring responsible gaming, preventing money laundering, and protecting the integrity of sports. It also outlines a range of penalties for non-compliant operators, which can vary from warnings to substantial fines of up to BRL 2 billion.
Disclaimer: This content is for informational purposes only and does not constitute legal advice. Laws and regulations may change at any time. Please consult a local legal professional before making any decisions. ChainBetRank is not responsible for any losses arising from the use of this information.
