Brazil: Sports Committee approves bill to safeguard betting funds
The proposal would extend protections to revenues derived from both lotteries and sports betting.
Key Points
- Brazil’s Sports Committee of the Chamber of Deputies approved bill to secure betting and lottery funds
- Official expanded proposal to include revenues from fixed-odds betting operators
- Ministries stress transparency in allocation as football grows dependent on betting sponsorships
The Sports Committee of Brazil’s Chamber of Deputies has approved a bill that seeks to prevent the blocking or diversion of revenues from lotteries and sports betting that are set for the Ministry of Sport.
The committee’s main name, Deputy Luciano Vieira, expanded the scope to also include revenues generated by fixed-odds betting operators.
According to Vieira, ensuring these resources are protected will guarantee financial stability for the Ministry and will also enhance long-term planning.
“The security provided by the measure will allow for greater predictability and planning of the Ministry of Sport’s actions, ensuring the full execution of structural projects and programmes,” he stated.
Good to know: Federal Revenue recently redirected lottery tax revenue to healthcare programmes in Brazil
In a recent hearing, officials from the Ministries of Sport and Finance underscored the need for transparency in how betting revenues are allocated, while also noting that Brazilian football has become heavily reliant on sponsorships from betting companies.
Authorities argued that strengthening oversight mechanisms is key to ensuring resources reach sports bodies while also addressing the social impact of betting.
The bill will now move to the Finance and Taxation Committee, and subsequently to the Constitution and Justice Committee. If approved there, it will proceed to the Senate before becoming law.
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