Lottery regulation is on the way in Brazil

Bill no 846/2018, which was passed last week the text of Senator Flexa Ribeiro (PSDB-PA) and seeks to regulate the transfer of lottery resources, will now be addressed by the plenary of the Lower House and, later, the Senate.

Effective until November 28, Bill 846/2018 was created in August as a new version of MP 841/2018, published in June and no longer applied.

The new text emerged from an articulation of the Ministries of Culture and Sports, following pressure from entities of both sectors, since the previous MP reduced the contributions of lotteries for these areas, to increase the resources of the National Public Security Fund ( FNSP).

The Government anticipates that the new provisional measure will guarantee annual contributions of around R $ 1 billion to the public security area, around $ 630 million for sports and $ 443 million for culture.

Sports Betting

In parallel, the Government will have up to four years of time to implement sports betting. The betting market was animated with the approval of Senator Ribeiro's text and the creation of fixed odds betting or sports betting. But in paragraph 3 of article 29 of MP 846/18, now transformed into the Conversion Law Project - PLV nº 29/2018, defines that the "Ministry of Finance could regulate it within a period of up to two years, extendable for the same period, from the date of publication of this Law ".

According to the Brazilian BNL news service, some executives understand that if the proposal is approved by the two Houses (Deputies and the Senate) with the text proposed in MP 846/18, they would be the conditions given for the operation of this type of bets in the country.