LeoVegas joins Brazilian responsible gambling group

Founded last month, the group was formed to work across many sectors to learn about the industry and understand how it can be integrated into the Brazilian economy.

Bet365, Flutter Entertainment, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group and Rei do Pitaco were the founding members of the group.

“As one of the other leading gaming operators, LeoVegas will contribute its expertise and experience to the public debate on gaming regulation in Brazil,” LeoVegas said. “The aim of this group is to help create a sustainable Brazilian gaming market.

“IBJR strives to advocate for transparent rules and guidelines for gaming companies. Its goal is to enable these companies to operate legally and to protect the interests of both players and the broader society. is.

“As a proud member of IBJR, LeoVegas Group is pleased to contribute to these important discussions, reflecting our continued commitment to advancing responsible gaming.”

federal regulation

Sports betting is not yet regulated in Brazil, but last month the government launched interim measures, ending a 20-year waiting period in the country.

The measure was adopted by President Luis Inacio Lula da Silva and signed by the Ministry of Finance, Planning, Administration, Health, Tourism and Sports.

Key measures include a 16% tax on gross gaming revenues paid by licensed operators. Players will be subject to income tax of 30% on winnings, but the Brazilian Ministry of Finance will be responsible for regulating sports betting.

Betting is not permitted for persons under the age of 18, persons associated with sports organizations, including athletes, and employees of the bookmaker.

It was revealed this week that the State Lottery of Rio de Janeiro (Loterj) became the first state lottery in Brazil to issue sports betting bids.

The five-year tender, won by São Paulo-based Rede Loto, will allow the operator to offer online sports betting in the country.