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Taxing times in Brazil , Peru opens up and it ’ s business as usual in India
Across the emerging markets , it ’ s been a fairly predictable few months with no real regulations coming into play . India has , at the time of writing , just completed its voting in its general election with Narendra Modi winning his third term as prime minister as the leader of the National Democratic Alliance coalition . Yet there still isn ’ t any indication if Modi ’ s government will clarify the potential retrospective GST tax on all bets from 2017 onwards .
Brazil also confirmed that it will be imposing a 15 % tax on all player winnings above BRL2,824 (£ 437.77 /€ 508.05 /$ 547.25 ), with full regulation expected by the end of July for online sports betting .
Staying in Brazil and FairPlay Sports Media has launched its Oddschecker brand for the Brazilian market with a localised version following the regulation updates . The Brazilian site will follow FairPlay ’ s existing LatAm assets in Mexico , Chile , Colombia and Peru .
Peru also launched as an online gaming and sports gambling regulated market earlier this year and quickly received nearly 150 requests for an operator licence in just the first 30 days .
Elsewhere , in the company ’ s full 2023 financial report released earlier this year , Better Collective CEO Jesper Søgaard revealed that it had expanded its LatAm operations during the year . This included establishing a new office in Rio de Janeiro to join the company ’ s established base in São Paulo . Better Collective also noted that its LatAm expansion made it easier to integrate asset Playmaker Capital , which it bought for € 176m (£ 150m /$ 189m ) in November 2023 .
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