Sports Betting is legal in Brazil!
Yesterday in Brasilia President Temer signs PM 846 into law
Brazil’s President Michel Temer signed into law MP 846/2018, which officially legalizes sports betting in the world’s eighth largest economy and largest in Latin America.
President Temer and several authorities attended the ceremony that took place in the Palácio do Planalto yesterday, Wednesday 12, in Brasilia. With this the long, long struggle for legalization of a new gaming industry begins for Brazil. Although bill
MP 846/2018 has approval of sports betting in the modality of fixed-odds lotteries, the die is literally cast and already there is talk of new gambling formats to be promoted in the country.
President Michel Temer was joined at the ceremony table by Sérgio Sá Leitão, Minister of Culture, Raul Jungmann, Minister of Public Security, Gustavo Rocha, Minister for Human Rights, Joaquim Silva e Luna, Minister of Defence, and Leandro Cruz, Minister of Sports, who said: “From the lemon we made a complete supper. The National Public Security Fund is able to change the history of public security in our country, without disregard for sport and culture. ”
President Temer also spoke during the ceremony, talking about the importance of this new law for the benefit of the portfolios stated within the law and overall for everyone in Brazil: “Solemn acts like this reveal precisely the qualification of our government. We all know that the issue of public safety is a fundamental priority for Brazilians and our government.
“A word to synthesize this moment would be daring. We dare a lot in our government and in all areas. We have been able to coordinate and integrate the entire public security sector in our country, and many other operations have been done in this short period with extraordinary results.
“We have a social objective as we take this opportunity with this new law. In saying that, I reiterate that the daring of our government did not stop only at the issue of public safety. That daring has crossed that line. We have made reparations to the states’ debt and also to the debt of the municipalities. The Union will be strong if both states and municipalities are strong, too
“What we must celebrate first is the integration, the interaction between security, sport and culture. This has been a brilliant afternoon for public safety, for culture, for sport, and especially for the Brazilian people,” concluded president Temer.
Provisional Measure MP 846 was passed by the Senate on November 21 and awaited presidential sanction ever since. However, the PM has been at President Temer’s office since July this year, after controversy caused by a proposal published in the previous month, which transferred resources from lotteries only to public safety, which lost credibility when MP 846 came into being.
The approved text provides for sports betting revenue distribution in percentages according to each type of lottery (federal, sports, and other lotteries). According to federal government estimates, revenues from sports betting should generate: R$1 billion (US$260m) for public safety; R$630 million for sport; R$412 million for culture.
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