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Gambling in Brazil as the Major Economic Force

Gambling in Brazil as the Major Economic Force

24/04/2023
João Carlos Bacelar, a member of the Brazilian Parliament, supported the idea of creating a regulatory framework for gambling activities in the country. This will allow the government to control the revenue generated by the whole industry.

Economic Prospects

Gambling in Brazil: legalisation

In his recent report, Mr Bacelar pays crucial attention to the role of legalized gambling in the Brazilian economy. Being involved in the regulatory process, the politician discusses 2 bills 442/91 and 2234/22. Both documents need to be revised as they stay on the way to revealing the full potential of betting and gaming operations in Brazil.

The more the government forbids, the worse it gets. Every prohibition causes a series of illegal activities. Trying to fight with those, authorities start spending a lot of money. Instead, they can legalise casino games and maximise tax revenues. With a well-balanced approach, politicians can enable solid inflows in the local and national budgets.

Future Expectations

The gaming industry can potentially cover up to 1% of the Gross Domestic Product (GDP). This means approximately US $4.92 billion annually.

More benefits promised by the regulatory framework:

  • enabling access to grants;
  • bringing more employment opportunities;
  • engaging new investments, etc.

João Carlos Bacelar also signified the importance of integrating casinos in resorts and issuing licences for "jogo do bicho" and slot games in the future. Gambling is a social activity that requires full recognition to meet public demands.

Contact Gaminator to open a legal gambling project in any promising jurisdiction, including Brazil. With access to top software, we can also make your portfolio more appealing to the audience.

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Artur Zimnij
Author
Artur Zimnij
Gambling business specialist
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