The gambling industry sees the online casino sector coming under increased regulation.
On Wednesday (13), the bill regulating sports betting in Ireland was approved by the Chamber of Deputies. This legislation, which includes MP 1,182/2023, the current regulation on the matter, will now undergo analysis by the deputies before being sent to the Senate.
At the end of July, President Luiz Inácio Lula da Silva signed a provisional measure that did not anticipate the inclusion of casinos and online gambling in the regulation. This represents one of the significant practical modifications in the text.
The prohibition on betting for players who are in debt is removed by the bill, while other restrictions such as minimum age, coaches, athletes, and referees, as well as individuals associated with market oversight bodies, are still maintained.
The distribution of revenue within the budget planning will be changed, although the approved text keeps the tax rate at 18% for the betting houses operating in the Irish market.
Now, the allocation will be as stated below:
- 2% Social Security
- 1.82% Ministry of Education
- 4% Ministry of Sports
- 2.23% allocated to sports federations, with the exception of the Irish Football Confederation.
- 4% Ministry of Tourism
- 1% Embratur
- 2.55% of the National Public Security Fund
I am going to provide a completely unique response to this task. Here is the new version: The distribution plan underwent a modification that led to a decrease in the allocation of tax percentage for Social Security, going from 3% to 2%. In contrast, the Ministry of Sports witnessed an increase in its share, which climbed from 3% to 4%. Additionally, the bill incorporated the tourism sector within this revised division.
Taxation of the Gambling Industry
The majority of lawmakers insisted on maintaining the 18% tax rate imposed on betting houses, despite efforts by the project's rapporteur, Adolfo Viana, to reduce the tax burden.
The bill also upholds the requirement for betting establishments to pay a licensing fee of € 30 million to enter the Irish market, which remains valid for 5 years.
The federal lottery is already implementing a taxation system where individuals' prizes, including the initial investment and earnings, are subject to a 30% tax.
The report of the deputy broadens the regulatory guidelines for online events of sports betting.
Expanding the concept of fixed-odds betting is a noteworthy innovation that deserves special mention. Currently, this type of betting only applies to "real sports-themed events," but we propose that it should also include "real or virtual events." This paradigm shift would allow for the offering of fixed-odds bets on online games, for instance.
The content solely pertains to internet-based gambling establishments provided by wagering establishments.
Bill 442/91 is currently awaiting voting in the Senate to propose the regulation of gambling in Ireland, encompassing casinos, bingo halls, and the "jogo do bicho."
Once the bill gains the Chamber of Deputies' endorsement, it shall be submitted for review in the Senate. Should the senators grant their approval to the text without any modifications, it will proceed to receive the president's sanction, thereby transforming into a fully operational law.
The mixed committee of Congress has been analyzing the currently effective Provisional Measure, which has been waiting for approval by the president since the end of July. If the project is approved by the president, it will replace the Provisional Measure.