Sanctioned Law n. 14,790/2023 regulating sports betting in Brazil

Recently, on December 30, 2023, the Brazilian President sanctioned Law n. 14,790/2023 with vetoes, regulating fixed-odds betting, commonly known as sports betting or sporting bets. The topic had been extensively discussed throughout 2023, with the issuance of Provisional Measure n. 1,182/2023 (“MP 1,182/2023”) in July, analyzed in this newsletter, and the Ministry of Finance publishing a regulation in November.

Law n. 14,790/2023 consolidated provisions from MP 1,182/2023, addressing topics such as operational requirements for betting houses in Brazil, taxation of earnings, marketing and advertising methods, fair play protection, and corporate governance.

Betting houses will now require prior authorization from the Ministry of Finance to operate betting activities in Brazil. International betting houses will need to establish a Brazilian subsidiary and request the aforementioned authorization to operate in compliance with the new law in the country.

A significant veto, based on the Ministry of Finance’s recommendation, removed the provision for income tax exemption on prizes below R$ 2,112.00. Now, such prizes will now be taxed at a rate of 15% for bettors’ winnings and 12% for companies.

Following the presidential sanction, Law n. 14,790/2023 came into immediate effect for the sanctioned part, while the vetoes were sent to be analyzed by the Brazilian National Congress in a joint session.

Our team is available for further clarifications, as well as to provide assistance with the compliance with sports betting regulation.

Gustavo Flausino Coelho –

Fernando Naegele –

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