The proposals submitted should allow the legalization of slot machines, gambling houses, jogo do bicho, casinos and other modalities that have been forbidden for 70 years. One of the arguments in favor of the decision has been the current situation of the economic crisis experienced by the country, allowing the reduction of the budget deficit.
According to the Legal Gambling Institute, illegal games currently operate around US$5.3 billion. The regulation of the activity in Brazil should warm the sector, with estimates that the market will move at a rate of US$14.65 billion per year, generating a revenue of US$4.25 billion.
In addition to the collection increase
Tourism is a strong beneficiary of the regulation of gaming in Brazil. Some speculations point to a potential betting tourism hub in Manaus and some cities in the Northern Region. This would boost tourism in remote capitals. If approved in São Paulo, Rio de Janeiro should also become a hub for this type of tourism.
Check the list:
• It will be possible to collect taxes that are currently evaded in clandestine games
• Decrease corruption of law enforcement agents who exercise power over clandestine houses
• Estimated generation of more than 400 thousand direct and indirect jobs
• Supervision of the exploitation of gaming (and consequent punishment of those who exploit it inappropriately)
• Increased supervisory power by federal revenue
• Inviaving gambling houses as a money laundering mechanism
• Increase of more than 200% in the tourist potential of cities
• Better perception of the business by society
According to the Brazilian Federation of Lodging and Food - FBHA, the regulation of gaming can be an opportunity to overcome the crisis and resume the economic growth of the country.
Current situation
The regulation is in progress at the national Congress, moving towards a positive outcome; however, there are still some impasses to be solved, especially on the destination of the funds and the form of taxation of the tax.
Entities of the hotel sector and representatives of the segment have been active in favor of regulation and enlightenment of the population. Athletes and celebrities have positioned themselves on the issue, often voicing opinions in favor of regulation.
By a demand of the society itself, Brazil moves towards regulation, which is estimated to add directly US$14.65 billion a year to the public coffers, ending this way in increasing the current collection of the country.
Source: GMB
