Paraíba State Government Publishes the Decree That Regulates the Sports Lottery
Paraíba, Brazil (February 17, 2023) — The Government of the State of Paraíba published Decree No. 43376/2023, signed by Governor João Azevedo, which regulates the operation of lottery games through sports betting in the State and modifies the provisions of Decree No. 41,037/2021.
In accordance with the legislation, the lottery modality known as Fixed Odds Betting may only be operated in a competitive environment -either physically or virtually- throughout the State of Paraíba prior to authorization from the Lottery of the State of Paraíba (LOTEP).
The Paraíba State Lottery will be responsible for accrediting, permitting, approving, regulating, supervising, and supervising the activities of the operators -private companies selected through public bidding carried out by LOTEP- throughout the State.
Also according to the regulation, a fixed rate will be charged for the permit (with a term of up to ten years, extendable successively) and a variable rate, depending on the percentage of operating income, both to be defined in the tender.
Read here the full text of State Decree 43376/2023.
SOURCE: Cibelae.Tags: Brazil, Lottery of the State of Paraíba (LOTEP), State of Paraíba, Sports Lottery