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10 de janeiro de 2024 •

Brazil’s New Law No. 14,790 of December 30, 2023: A Game-Changer for the Sports Betting Market

On December 30, 2023, the President of Brazil sanctioned, with certain vetoes, the long-awaited Law No. 14,790/2023. Originating from Congress on July 25, this pivotal legislation aims to regulate the nation’s sports betting landscape, and is commonly referred to as the “Betting Bill.”

Background Insight:

Despite the legalization of fixed-odds sports betting in 2018 through Law No. 13,756/2018, definitive regulations were pending for four years. This gap was temporarily bridged by Provisional Measure No. 1,182/2023, known as the “Betting MP,” setting the stage for Law No. 14,790/2023.

After its introduction, the Betting Bill underwent detailed evaluation in the Chamber of Deputies, followed by critical debates and amendments in the Federal Senate, particularly in the Sports and Economic Affairs Committees. The resulting changes required a revisit in the Chamber, leading to the final version that received the President’s sanction.

Given the presidential vetoes, Congress may revisit the law to decide on maintaining or overturning these vetoes through majority votes in both chambers.

Highlighting Key Features of Law No. 14,790/2023

Scope of Bets:

Bets can include real or virtual events, in which it is defined, at the time of placing the bet, how much the bettor can win in case of correct numbers, in physical and virtual formats. The final version from the Senate proposed restricting fixed-odds sports betting to real-world sports events only, excluding virtual events. However, this amendment was overruled, allowing for betting on both real and virtual sporting events under fixed-odds.

Additionally, betting on youth sports events or events that involve exclusively underage athletes is prohibited by the Law.

Licensing Process and Criteria:

  • The Ministry of Finance is responsible for outlining the licensing process via ordinances.
  • The maximum licensing fee is set at R$ 30 million, covering up to three brands.
  • Operators must be based in Brazil with at least 20% Brazilian ownership.
  • Integrity and Responsible Gaming:
    • The Ministry of Finance will establish integrity policies and can demand information from licensed operators.
    • Operators are obligated to implement robust security and monitoring systems.
    • The Ministry can suspend or prohibit bets on specific events to prevent manipulation.
    • Certain individuals, including minors and athletes, are barred from participating in betting.


  • Operator’s net revenue, after deducting payouts and taxes (the “Gross Gaming Revenue – GGR”), will face a 12% tax, supporting social security among other goals.
  • Winnings from sports betting will incur in a 15% rate of individual income tax (“IRPF”) on the prize received, also applied to fantasy sports.

 State and Municipal Competence:

States and the Federal District are allowed to operate lotteries within their regions, following national legislation and provided that the state license is restricted to their correspondent territories, being that each Operator can be granted only one license in only one state or Federal District. Only the Federal Government can authorize national licenses.

Advertising and Marketing Regulations:

  • Advertising and sponsorship policies in the betting sector will be regulated by Conselho Nacional de Autorregulamentação Publicitária – CONAR (National Council for Advertising Self-Regulation) in partnership with the Ministry of Finance aimed at safeguarding minors as well as promoting the responsible game and preventing gambling addiction.
  • After a transitional period, advertising by unlicensed operators will be prohibited.
  • CONAR has already issued a regulation on the matter, underlying guidelines for the advertising of fixed-odd bets in the country:
    • Advertising must be conducted in a socially responsible manner, protecting minors and vulnerable persons, guaranteeing that those in the advertisement appear to be older than 21 years;
    • All advertisement must be easily recognizable as such by all consumers;
    • Disclosure of certain, easy or high gains should be avoided, as well as the presentation of misleading or unrealistic information about the likelihood of gains or the absence of risks;
    • There must be an identification the license granted to the Operator in all advertisement; and
    • Responsible gambling and social responsibility must be adopted as principles and a warning measure must be present in all publicity.

Clubs’ Intellectual Property and Athletes’ Image Rights:

  • The Ministry of Finance will regulate the use of player images and club symbols by betting operators.
  • 30% of government revenue from betting taxation will go to sports entities that license their intellectual property for the advertisement of fixed-odd bets.

Payment Method Regulations:

The Central Bank will set payment arrangements to prevent transactions through unauthorized operators, as well as other prerogatives related to the regulation of payment methods involved in sports betting operations.

Presidential Vetoes and Implications:

The President vetoed sections concerning the taxation of net bettor winnings and certain prize-related provisions. It should be highlighted that these vetoes are not final, as the Congress may revisit the Law to decide on upholding or overturning these vetoes through majority votes in both chambers of the Congress.

Transition period:

These regulations have been effective since December 30, 2023. However, specific measures, like betting operator advertising, are subject to a transitional period regulated by the Ministry of Finance. Furthermore, allocations from betting revenue to social security and changes to Law No. 13,756/2018 will be effective from April 1, 2024.