Brazil Is Looking Toward A Future Sports Betting Industry

Brazil is looking toward regulating a sports betting market in the country.
The measure known as PL 442/91 would make both retail and mobile sportsbooks available for Brazilians.
Billions of dollars in annual revenue are estimated to be seen by a regulated sports wagering industry in Brazil.

BRASILIA – The Brazil Tourism Commission is considering sports betting legislation as a way to boost the country’s tourism industry. Joao Bacelar, the commission’s president, and Magnho Jose, president of the Brazilian Legal Gambling Institute (IJL) have come together to draw up a foundation for a sports gaming market for Brazil.

Their proposal is now in the hands of the Special Secretariat of the Ministry of Economy’s Investment Partnership Program (PPI).

What This Legislation Is Looking To Achieve

Regulated sports betting in Brazil is not just for the purposes of tourism, although that is a big draw. Tons of Brazilians wager on sporting events every day and that money is not going toward helping the economy of the country.

It has been surmised that almost $4 billion could be made in taxes with a sports gaming market in Brazil when combined with their hospitality industry.

“Because of the great potential of this activity, which is currently operating outside the scope of the law, legalization will also bring investment in the Brazilian market,” said Bacelar.“The income raised by these facilities depends on the framework and number of facilities defined by the National Assembly, so the estimates do not include casinos.”

Sports bettors in Brazil take their business to online and mobile sportsbooks. Should this legislation pass, both retail and mobile sports betting would be seen in the country. It is likely that retail locations would be additions constructed within hotels and resorts country-wide.

“Creating a gambling regulatory framework will benefit not only the government but also Brazilians who will be safe when betting directly online,” said Bacelar.

Over 200,000 jobs would be seen with the new market as well as 600,000 more jobs on top of that which would be a part of the business in an indirect manner. An iLottery, iCasinos, and Lotex are also a part of the current draft being considered for regulated sports gaming in Brazil.

What’s Coming For Brazil

Multiple discussions are taking place behind closed doors to get backers for the market. Lawmakers would like to get resorts and hotels on board with opening sportsbook venues at their facilities.

The proposal, known as PL 442/91 is presently being looked over by the Chamber of Deputies’ but many discussions are planned with the Brazil Tourism Commission as they are in charge of the subjects of lottery, sports betting, and gaming in general within the country.

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Christina Monroe

Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.