Brazil Approves the Regulation of iGaming
The Chamber of Deputies of Brazil has finally approved bill 3,626/2023, which regulates gambling and reintroduces iGaming after its temporary removal by the Senate.
The vote on December 21 marked the conclusion of the bill’s approval process, initiated by the Senate on December 12. The new law introduces changes to taxation, capping gross gaming revenue (GGR) from games at 12% and imposing a 15% tax on player’s net winnings (to be paid annually).
Licensees will be required to pay an initial fee of up to 30,000,000 Brazilian reals, granting them the right to operate multiple brands, up to a maximum of 5. Unlicensed operators will not be allowed to advertise in Brazil.
The bill awaits final approval by the country’s president.