Online sports betting is now officially legal in Brazil

The President of Brazil, Michel Temer, sanctioned the Provisional Measure (MP) 846, during a ceremony in the Palace of Planalto yesterday. He was accompanied by the Minister of Sports, Leandro Cruz; the Minister of Culture, Sérgio Sá Leitão; the Minister of Public Security, Raúl Jungmann; and the Minister of Human Rights, Gustavo Rocha.

The MP 846 redistributes the resources from the federal lotteries and allocates part of them into the National Fund for Public Security (FNSP), whose operation will be reformulated. The FNSP safeguards investments directed to entities responsible for the management of sport in Brazil.

In addition, the measure creates a new, fixed fee lottery, aimed at framing sports betting made by the Internet. After the presidential approval, the Ministry of Finance, through the Secretariat of Taxation, Energy and Lottery (SEFEL), must decide how and when to start the operation. The Ministry of Finance will be granted a two-year margin, renewable for the same timespan, to regulate and determine the regulations to follow.

Meu Governo sancionou hoje o ato que reestrutura o Fundo Nacional de Segurança Pública. Essa questão como todos sabemos é fundamental e prioridade para os brasileiros e para nosso Governo. pic.twitter.com/aPz7SivE4A

— Michel Temer (@MichelTemer) 12 de diciembre de 2018

"Public safety is a priority for Brazilians, we support their funding, without neglecting the funds of Sports and Culture," said President Michel Temer. "The National Public Security Fund has the ability to change the history of public security in our country," said Minister Leandro Cruz.

"This was a brilliant afternoon for Public Safety, Culture, Sports and, above all, for the Brazilian people," said Temer during the ceremony, which was broadcast live on Facebook.

The federal government expects that the PM of the Lotteries will guarantee the annual transfer of about US$ 255 million for public safety, US$ 161 million for sports and US$ 113 million for culture.

The outgoing president took the opportunity to take stock of his government: "If I had to synthesize this moment, I would choose the word 'daring': we dared to do much in diverse areas, we could coordinate and integrate the Public Security sector in our country."

He added: "We have done a lot in these two years, we took a muddy road and are now delivering a paved road."

Jair Bolsonaro will become President-elect as of January 1.