Recently, the Remote Gambling Association estimated that the Brazilian online gambling market could create 2.1 billion in revenue in the near future. The report has been compiled by the service company KPMG and was published when gambling legislation came into force in Brazil.
Responsible and effective rules for licenses
In the report, KPMG concluded that Brazil should introduce ‘responsible and effective’ rules for licenses, a fiscal framework based on gross gambling revenue (and not sales as is the case in recently regulated jurisdictions) and correct measures for socially responsible online gaming and sports betting.
Great news for gambling operators
The fact that online gaming market in Brazil could be worth more than 2 billion dollars in the future is great news for many gambling operators who are currently working in Brazil or those who like to expand their businesses in the coming months.
Solving the illegal gambling problem
According to numbers released by the Brazilian Legal Gaming Institute, underground and illegal gambling operators generate approximately 6.2 billion dollars each year. There has been a long-standing debate between both houses in the Brazilian National Congress about gambling. Some bills have already been introduced, but none of them had a real impact because of extreme opposition of some legislators. The legislation of online gambling in the country might solve this problem. Time will tell if that will happen.