Brazil

Brazil launched its regulated online gambling market on 1 January 2025 under Law 14,790/2023, overseen by the Secretaria de Premios e Apostas (SPA) within the Ministry of Finance. Operators obtain federal authorisation covering fixed-odds betting and online gaming (slots, live casino, crash games and fantasy) for BRL 30m over five years, permitting up to three brands each, with mandatory SIGAP reporting. Uptake has been strong - by August 2025 there were 78 licensed operators running 138 active brands. Taxation has been contentious. The regime began at 12% of GGR plus a 15% player-winnings tax, and a proposed increase to 18% via provisional measure MP 1,303/2025 lapsed without a congressional vote in October 2025. Instead, Congress approved a phased rise: 13% from 2026, reaching 15% by 2028. For operators, the substantial BRL 30m authorisation cost sets a high entry bar suited to well-funded groups, while the gradual tax path offers more predictability than the abrupt jump that was averted. Brazil is one of the largest newly regulated markets globally, and its early phase has been characterised by rapid licensing, a large brand count and intense debate over the fiscal framework. The direction of travel is toward a moderately higher but phased GGR tax, layered with corporate taxes. The defining considerations are the high upfront authorisation fee, the three-brand cap and the still-settling tax trajectory in a market of exceptional scale and competitive intensity.