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The Brazilian Institute of Responsible Gaming (IBJR) has backed the passage of Bill 3626/2023 in the Chamber of Deputies while highlighting the need for significant legislative modifications.
The IBJR has said that it supports the proposed legislation, although with substantial misgivings. The institute has emphasized worries that if the law is approved in its current form, it may prevent businesses from creating goods that are both competitive and alluring to gamers. The level of rewards provided, which may be less than those on the black market for gaming, is the main problem.
In its current form, the law may encourage businesses to avoid acquiring a state license and skip paying taxes. According to the IBJR, this would lead to an unequal playing field where legitimate operators would be unable to successfully compete.
The Institute has expressed regret that neither the Executive nor Legislative Branches have yet acknowledged their concerns. It has issued a warning and said that it is rethinking possible sponsorship and betting ventures in the nation. For many football teams, these assets are a crucial source of income.
The IBJR suggested many steps in its statement to ensure the success of the gaming and betting industries. The lengthening of operating licenses, alterations to inspection costs, modifications to licensing processes, and reviews of income tax withholding computations are some of the actions taken. They contend that these adjustments would bring Brazilian society, the government, customers, and the gaming and betting businesses that make up the country’s ecosystem into alignment.
André Gelfi, who leads the IBJR, highlighted the importance of timely action, stating, “Fortunately, there is still time to implement a policy that aligns the interests of the Brazilian society, the government, the consumers, and the companies that make up the national gaming and betting ecosystem.”
As Brazil navigates the complex terrain of gaming legislation, the input of organizations like the IBJR becomes increasingly significant in shaping a balanced and fair regulatory framework.