The impact of tax incentives on Brazil’s betting market
As Brazil undergoes fiscal reform, the betting market finds itself in the middle of a transformation. The panel titled “Tax Incentives and Taxation: How Can the Reform Transform the Betting Market?” held on 9th April at the Itaim stage of the BiS SiGMA Americas 2025 Summit brought together legal and regulatory experts to dissect the implications of the country’s evolving tax landscape.
Moderated with precision and a forward-thinking lens, the discussion delved into both the challenges and strategic opportunities that tax reform presents for the iGaming and betting sectors in Brazil.
Understanding the reform
The conversation commenced with Udo Seckelmann, Head of Gambling & Crypto at Bichara and Motta Lawyers, who underscored the urgency of clarifying tax structures amid ongoing regulatory developments. Seckelmann drew attention to the risks of double taxation, particularly as operators seek to align both federal and municipal obligations. He stressed the importance of cohesive legislation to avoid legal uncertainty, promoting a connection between different tiers of government.
Creating a competitive yet compliant ecosystem
Bárbara Teles, Founder and Director of AMIG, highlighted the delicate balance policymakers must strike between fiscal ambition and market competitiveness. She argued that excessive taxation could deter foreign investment and drive operators into informal markets.Teles proposed the adoption of targeted tax incentives as a mechanism to formalise and strengthen the local ecosystem, particularly for Brazilian startups during early-stage growth.
Sustainable growth through strategic structuring
Offering a corporate perspective, Paulo Reales, Founding Partner at Sterling Corp., focused on how businesses can structure operations to maximise efficiency under the new regime. He noted that the reform presents a unique opportunity to build a sustainable framework that promotes responsible gaming, protects consumers, and ensures long-term tax revenue. Reales advocated for dialogue between regulators and industry stakeholders to co-create pragmatic, enforceable policy.
Legal certainty as a pillar for investor confidence
Rounding off the panel, Pedro Lameirão, Partner at BBL – Becker Bruzzi Lameirão Advogados, added the need for legal predictability. He said that investors—particularly international stakeholders—seek clarity in taxation to mitigate risks and validate long-term commitments. Lameirão proposed the introduction of binding tax rulings and enhanced transparency mechanisms to reinforce Brazil’s position as a viable market for betting and gaming operations.
To continue exploring the pressing regulatory, financial, and technological themes shaping the future of iGaming in Brazil and beyond, explore the full BiS SiGMA Americas 2025 agenda.
