According to Jodismar Amaro, President of FEBRALOT (The Brazilian Federation of Lottery Companies), the lottery industry should be involved in the development of sports betting regulations and should have access to lottery agencies once sports betting is legalized.
“There are 13,000 lottery houses in Brazil, we have the network ready and we want to be included in some way,” Amaro told press.
The entity’s goal is to take part in the discussions when the Provisional Measure is released and to offer revisions to the text. According to the Minister of Finance, the Provisional Measure will be released on March 26 when President Lula da Silva returns from his trip to China.
Febralot asserts that allowing lottery companies to offer sports betting will have a favorable impact on the industry while increasing the income of lottery operators throughout Brazil. Febralot has a network of 13,000 agencies around the nation.
The government will regulate online sports betting, according to Finance Minister Fernando Haddad, and a formal proposal will be made in March. Haddad informed reporters that the Provisional Measure (MP) to tax online sports betting would be put into effect following his and the President’s trip to China.
The move will take effect 90 days after the MP is published, the minister said, adding that the taxation has not yet been set due to the lack of data on company income.