The Brazilian gambling market has long been a hot topic of discussion amongst the sports betting community, and there seem to be some great news coming our way in this front. The legalization of casinos in Brazil will be the subject of discussion in the Chamber of Deputies in Brasilia in the coming days and the future of sports betting in Brazil looks bright.
After decades of prohibition, the National Congress debates the resumption of this gaming segment, based on the prospect of billionaire investments, job creation and revenue for public safes. There are various bookmakers offering online casino options that can generate a huge boost to the Brazilian economy. BET-IBC, which is considered by many to be the best betting agent in the market, can help you open a betting account for all your needs.
The legalization will be debated in the Chamber of Deputies, with the presence of Economy Minister Paulo Guedes. The release model allows casinos to use integrated operations in resorts, with a limited guarantee population of the various regions of the country. According to estimates by the Ministry of Tourism, it is likely that the national scene will receive over 14 billion dollars in investments from the release of casinos in Brazil. Efforts are also being made to regulate the very popular Bingo halls and the culturally important “Jogo do bicho” numbers game.
In the U.S.A the gambling Industry is worth over $240 billion dollars and employs over 1.7 million. It is the most profitable recreational activity for the industry and Brazilian officials are hoping to attract a new economic boon for Brazil in 2020 and beyond with this new move.
As for sports betting, bookmaking sites have been able to sponsor Brazilian football clubs since 2018, following the enactment of Law 13,756 and currently 11 Serie A clubs are sponsored by betting sites. However, the liberation for legal operation of online bookmakers in Brazil should start from the second half of 2020.
Either way, sports betting regulation in Brazil will awaken a sleeping giant, which could trigger a positive domino effect in Latin America, a region that is moving slowly but steadily. And while we wait for this sleeping giant to join the field, you can check out our online casinos section to find out all the best places to play all your favorite casino games online.