“Hugo Baungartner Unveils Brazil’s Gaming Laws”,

The development of sports betting in Brazil has been a topic of discussion for the past two decades. However, with the impending go-live date of the market, people are eagerly anticipating its arrival. According to Hugo Baungartner, a special guest on World Series of Politics, a law legalizing sports betting in Brazil is imminent. The Brazilian government is set to impose a 15% tax rate on all gross gaming revenue (GGR) from sports betting, which Hugo believes will be on top of other taxes already in place, bringing the total percentage to 26% of GGR. Hugo also expresses concern about the potential for white labels, which could allow operators to have numerous brands under one license.

The market could go live in as little as 30 days, which marks the end of a long process that has seen three presidents oversee it. Sports betting is categorized as lottery in Brazilian law, making it easier to pass and more appealing to the public and government. Additionally, Hugo mentions the pressure to have full-scale integrated resorts in Brazil in the future. Overall, the impending legalization of sports betting in Brazil is a topic of great interest, and the market’s success remains to be seen.