(Photo: Pavel Danyliuk – Pexels) Although betting and casinos are not legal in Brazil, games can be played online, and the LeoVegas casino is already a legal way to play online, with many varieties and opportunities for your entertainment.However, every day the issue of legalizing gambling in Brazil gains new initiatives, with many people supporting the issue and others against gambling in the country.
Meanwhile, online casinos continue in full force, not all of them illegal, as since December 2018 it has been possible to play online games legally while in Brazil, approved by then president Michel Temer.
However, it is important to highlight that when operating online in Brazil, companies do not pay their fees and taxes in the country, which prevents the accumulation of large sums of money.
Those who receive payments are the companies' licensed locations, even if the Brazilian player is playing online.
To change this, we need to create laws and allow physical access to casinos. The assumption is that this will happen in the near future, but the theme still generates mixed reviews.
In fact, the Chamber of Deputies approved the bill that led to the legislation, but the Senate responded by creating a Parliamentary Front for Gambling in Brazil to prevent gambling from being legalized in the country.
Online gaming and betting creates high margins. Casinos are available all over the world, whether physical or online.
According to Grand View Research, a company specializing in business consultancy, the betting market is expected to grow 11.7% per year until 2030, with revenues of US$182 billion. It is expected to reach the US dollar.
A good example of how gambling creates high value is Macau, the only place in China where casinos are legal. In April of this year, they had their worst performance in recent history, but raised $335 million.
Federal deputy Erculano Passos (MDB-SP), one of the defenders of legalization, was interviewed on YouTube by Poder 360 to find out how Brazil can explore this market. In the interview, he claimed 650,000 new jobs and US$20 billion per year for the country. said it expects revenue of 100 billion rubles so that gambling can be legalized.
According to him, the idea will follow the Las Vegas model, where gambling represents 30% of all revenue, and also has similarities with Macau.
How long will legalization take place in Brazil? Based on the bill approved in the Chamber of Deputies, we can imagine how the operation could happen in Brazil. Firstly, it is important to note that companies can enter the country as resort casinos if they follow certain rules.
Among them, the limit of companies per state based on the number of inhabitants. This way, São Paulo could have three groups; Rio de Janeiro and Minas Gerais two each; and the remaining states and the Federal Circuit with one.
Every business must comply with regulations, such as restaurants, retail stores, meeting spaces, and living rooms. Fees and withdrawals are still unknown, but are expected to follow the companies' payout line, with bettors paying withdrawals only after winnings.
So these are some defined points, but everything can still be customized. It is expected that further steps towards potential legalization will only be taken in 2023, after a new administration of elected candidates.