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Second postponement of the highly anticipated Senate vote on Brazil’s sports betting measure, measure 3,626/23, has been announced. The initial intended date of the vote was Wednesday. Tuesday, December 12 is the new date for the voting. According to Senator Angelo Coronel (PSD-BA), this unanticipated delay is the result of certain senators being away from the United Nations climate conference (COP 28) in Dubai.
Although the bill’s inclusion of online casino gambling has been controversial, Senators Eduardo Girão and Carlos Portinho have voiced concerns about the lack of a thorough regulatory framework for internet casinos. Some senators want further discussion on the issue, even though the Chamber of Deputies approved the plan to add iGaming in September.
Since the measure was sent to the Senate, it has been revised more than 100 times. The Ministry of Finance’s original 18% and 30% tax rates were surpassed by the Senate Economic Affairs Commission’s (CAE) suggested 15% tax on player winnings and a 12% tax on sports betting operators. In order to draw customers and enterprises to Brazil’s regulated market, the CAE defends these lower charges.
The Betting Bill is a major contributor to Brazil’s 2024 budget through expected tax revenues and license fees. However, given the short window before Congress vacations in late December, doubts are raised regarding the bill’s ratification this year. The legislative process is further complicated by the significant modifications that senators offered in November.
The Senate is not the end of the bill’s journey; the House of Representatives must evaluate it before it can be approved by President Lula. The prolonged licensing procedure coupled with continued hostilities cast doubt on the government’s capacity to strike a compromise between fiscal interests and public safety.
Bill supporters and industry players are growing more impatient, and pressure is mounting on Brazilian authorities to speed up the vote process. Even while new legislation is unavoidable, the public’s trust in lawmakers’ ability to strike a careful balance between business interests and consumer safety is being undermined by the government’s evidently disorganized approach.