Brazil’s lower house approved on Wednesday a bill that aims to regulate sports betting in a move that could boost its 2024 budget by over 1.65 billion reais ($335.65 million).
The bill will now be sent to the Senate.
The approval was welcomed by the government, whose leader in the lower house Jose Guimaraes said the bill “will be an important step towards ending or reducing tax evasion” in the country.
“It will also contribute to increasing the State’s revenue and consequently more resources to finance the national reconstruction project,” he said in a post on messaging platform X, formerly known as Twitter.
