Brazil’s lower house of Parliament approved a bill on September 13 aimed at regulating sports betting and online gambling. The bill, which also encompasses virtual casinos, is now headed to the Senate for further deliberation. Brazilian Legislation Sets 18% Tax on Online Betting Revenue The bill proposes an 18% tax on the net revenue generated by online betting companies, marking a significant step in formalizing and regulating the burgeoning online gambling industry in Brazil. Companies wishing to operate legally in the country will need to obtain a grant, which has been set at BRL30 million ($6 million), valid for a three-year period. The legislation not only seeks to regulate the indust
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