LUN 6 DE MAYO DE 2024 - 06:38hs.
A great victory for the sector

President Temer sanctioned PM 846 and Brazil already has sports betting officially legalized

President of Brazil Michel Temer has sanctioned PM 846/2018, which legalizes sports betting in the form of fixed-quota lotteries and distributes the collection of lotteries among culture, sports and public safety areas. Several authorities participated in the ceremony that took place in the Noble Hall of the Planalto Palace, this Wednesday in Brasilia. With this, the fight for legalization of the gaming sector achieved a great victory in the country.

The ceremony was attended by President Michel Temer, the Ministers of Culture, Sérgio Sá Leitão; Public Security, Raul Jungmann; Human Rights, Gustavo Rocha; Defense, Joaquim Silva e Luna; and Sports, Leandro Cruz.

The Minister of Sports, Leandro Cruz, spoke during the ceremony: "From the lemon, we made a complete supper. The National Public Security Fund is capable of changing the history of public safety in our country, without neglecting Sport and Culture."

President Michel Temer also spoke during the ceremony talking about the importance of this new law for the sectors contemplated and especially for the whole of Brazil.

"Solitudes like this reveal precisely the qualification of our government. The question of public security, we all know, is fundamental and a priority for Brazilians and for our government. A word to synthesize this moment would be daring. We dare a lot in our government and in all areas. We were able to coordinate and integrate every public safety sector in our country. Many operations were done in this short period with extraordinary results.”

“We also have a social goal in this measure that we take. And in saying this I reiterate that the daring of our government that did not stop only on the issue of public safety. I reiterate that the daring of our government has not remained restricted to public security. This daring has surpassed this limit. We did the debt repricing of the states and we did the same with the municipalities. The Union will be strong if states and municipalities are strong as well,” he added.

What we should celebrate first is the integration between safety, sport and culture. This was a brilliant afternoon for public safety, for culture, for sport and, above all, for the Brazilian people," concluded the president.

The provisional measure (PM) was approved by the Senate on November 21, and awaited presidential sanction ever since. It was edited by President Michel Temer in July of this year, following a controversy over a proposal published in the previous month, which transferred funds from lotteries only to public safety. This measure ended up losing its validity.

The federal government expects that the PM of the Lotteries will guarantee the annual transfer of about US$ 255 million for public safety, US$ 161 million for sports and US$ 113 million for culture.

With regard to sports betting, it was determined that 2.5% of its collection should be sent to the National Public Security Fund (FNSP) when it is made by physical ways and 1% if carried out online; which would mean onlendings millionaires to that area coming from this new market that will open.

The PM determines a period of two years, extendable by two others, so that the Ministry of Finance establishes the rules for authorization of concession to the operators of the modality. The gaming market in electronic form on real sports events, where, on the occasion of the bet, the bettor knows the amount of the prize to be won if he hits the prognosis, is estimated at US$ 1.1 billion in Brazil.

At the suggestion of SEFEL, a proposal is presented that aims to make feasible the exploration of this new lottery modality, called fixed-odds betting. Given that it is necessary to channel this lottery activity to the rules of Brazilian law, the prizes must be higher than traditional lotteries.

Source: GMB

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