Once again, Brazil was the center of attention in the panel that discussed the current iGaming landscape in Latin America. With the participation of Thomas Carvalhaes, director of Vaidebob, Witoldo Hendrich Jr, partner of Online IPS, and Ramiro Atucha, CEO of Vibra Gaming, the meeting served to demonstrate the distrust regarding a possible regulation of iGaming in Brazil.
With around 300 people listening to the words of the two Brazilian specialists, who outlined a history of the legalization of the sector and the wait for regulation, the audience laughed ironically several times, especially when Witoldo Hendrich Jr. said that Brazil is still waiting for the government's decision to issue a Provisional Measure (PM) and a Bill regulating the activity.
Thomas Carvalhaes told GMB that “there is a lot of frustration about Brazil not being regulated. Everyone is impatient and the country is discredited. Everyone sees it as a giant market, but they believe that we are incapable of generating regulation,” he commented.
According to him, Brazil should follow the Colombian model, which consolidated iGaming in the country. “It is the best example of regulation in all of Latin America and Brazil should not miss the opportunity to follow it,” he said.
For him, the directions that Brazil is following will not create the adequate channeling for the activity, in view of a grant fee of R$ 30 million (US$ 6.3m) and a 16% tax on the GGR. “In this way, we are not going to create a sustainable market for the country.”
According to him, this is unfair and the value is not justified, “unless the operator is a multimillionaire”. In the assessment of Vaidebob's director, with this rate, small operators will remain on the black market.
Carvalhaes explained to the audience that, taking advantage of a decision by the Federal Supreme Court, some states are already licensing operators to offer sports betting locally, “which creates a lot of insecurity, as we are not sure what it will be like when the federal government defines its national regulation.”
Citing the example of Colombia, Carvalhaes stated that the operators are satisfied with the result and the activity is still thriving. “That is why I reinforce that the Colombian model is the best in Latin America and the countries in the region – and Brazil in particular – should follow the example,” he concluded.
Source: GMB
