Established last month, the group was formed to work across a number of 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 group’s founding members.
“Joining the ranks of other major igaming operators, LeoVegas will contribute its expertise and experiences to the public debate on igaming regulation in Brazil,” LeoVegas said. “The group’s objective is to support the creation of a sustainable Brazilian igaming market.
“The IBJR strives to advocate for transparent rules and guidelines for igaming companies. Its goal is to ensure these companies can operate legally, safeguarding the interests of both players and the wider society.
“As a proud member of the IBJR, LeoVegas Group is excited to contribute to these important discussions, reflecting our continued commitment to promoting responsible gaming.”
Federal regulation
Sports betting is yet to be regulated in Brazil, though last month, the country’s government launched a provisional measure, ending a 20-year wait period for the nation.
The measure was adopted by President Luiz Inácio Lula da Silva and signed by the Ministries of finance, planning, management, health, tourism and sports.
Key measures include a 16% tax on gross gaming revenue, payable by licensed operators. Players will face a 30% income tax on winnings, while Brazil’s Ministry of Finance will be responsible for regulating sports betting.
Those under the age of 18, people with ties to sports organisations – including athletes – and bookmaker employees will not be allowed to place bets.
This week, it was revealed that the Rio de Janeiro State Lottery (Loterj) became the first state lottery in Brazil to issue a tender for sports betting.
Awarded to São Paulo-based Rede Loto, the five-year tender permits the operator to offer online sports wagering in the country.
Original article: https://igamingbusiness.com/social-responsibility/responsible-gambling/leovegas-joins-brazilian-responsible-gambling-group/
