Brazil’s Online Casino Market: Expanding At A Rapid Rate

The online gaming industry has grown significantly every year since its inception, and the past year has been no exception. 

But over in Brazil, gambling isn’t easy as the law makes it hard for the Brazilian people to bet legally. Where gambling opportunities tend to exist, players could be risking more than their money. 

Play your cards wrong and you could find yourself staring down the barrel of a heavy penalty or even a prison sentence.

Currently, the Brazilian gambling market is waiting for the government to lift a 70-year ban. Something that could be a fantastic thing for Brazil if it ends up going through. But with no current date set, nobody really knows if and when the situation will turn around for a potentially huge market of gamblers in Brazil.

Where does Brazil Stand with Gambling?

It has been illegal for decades to gamble in Brazil, with few exceptions. However, there are loopholes that legally allow Brazilians to gamble online outside of the country’s borders, like at https://onlinecassino.net.br/. 

Roughly translated, it’s technically not illegal for somebody who lives in Brazil to gamble online, just as long as the online casino in question is located elsewhere. A frankly bizarre form of legislation, given how it means that the government has no direct control whatsoever over the casinos it allows its citizens to access online.

The few physical casino locations in Brazil are located in tourist-heavy cities and are not accessible for most citizens. In fact, there are currently only six locations for over 200 million people. The lack of physical casinos paired with the growing prevalence of consumer technology is fuelling an enormous spike in the popularity of online casino gaming in Brazil.

The Brazilian De Juego Legal team have been trying to legalise online gambling in Brazil for the past six years. They were able to meet with government officials again last month, during which there were at least rudimentary indications of progress on the cards. 

Senator Angelo Coronel has also been advocating for the legalisation of all forms of gambling, and is currently promoting the PL 2648/2019 bill. Primarily, advocates have been advising the government that whether they legalise it or not, it will continue to happen, and more and more people will continue to bet. 

In which case, it simply makes sense to legalise and regulate gambling domestically, rather than allow it to go on with no specific form of regulation whatsoever. It’s not something the government can stop in its entirety, so trying to do so is a futile endeavour

What Could Happen if Brazil Legalised all Gambling?

As one of the most populated countries in South America, Brazil could be a lucrative market for gaming operators around the world. It’s universally acknowledged that the market will be safer (physically and virtually) than the underground industry that exists now. 

Lifting the ban on gambling could bring in over R$20 billion dollars (£2.8bn) in taxes annually. It would also put any number of black market operators permanently out of business, taking power out of the hands of criminals and putting it back into the hands of the government. This would create a gambling landscape that is far safer and easier to manage than it is right now.

It could also help stimulate the economy and increase investments in the Brazilian market. Legalising all gambling could also help the government fund social and health projects for their citizens. It’s also been said that the gambling industry could create over half a million job opportunities for Brazilians. 

As touched upon above, there’s also the argument that it is fundamentally impossible for the Brazilian government to prevent the country’s citizens from gambling outright. If people want to gamble, they’ll find a way of doing it. As it stands, attempting to police something that’s been long overdue an overhaul is simply putting an enormous drain on the country’s resources.

Too much time, money and policing is going into something that is practically impossible to accomplish. 

Brazilians Have a Lot at Stake

Over 2.5 million Brazilian players are allegedly registered with online casinos, and it is estimated at least half play every day. With the underground revenue increasing tens of millions of dollars every year, it only makes sense that Brazil re-evaluates the current laws. 

More than 75% of United Nations members have legalised gambling, while Brazil is on the opposing side. The global online gambling market has gone from £46 billion in 2020 to over £52 billion in just one year and shows no signs of slowing down. 

The online casino market will continue to grow in Brazil, and if the government can get on board it, the possibilities could be limitless. Hopefully, with the continuing push from advocates, the government will listen to those fighting for more gambling rights. Regardless, Brazilians will find a way to fight for their freedom and fun with online casinos. 

Common Sense Precautions

In the meantime, those who continue to gamble online exclusively at overseas casinos should exercise sensible precautions while doing so. This means ensuring that the casinos you do business with are licensed and registered with a reputable authority. Irrespective of where they are based, the importance of licensing and regulation is unchanged.

Likewise, using customer reviews and recommendations to find a casino you can trust is imperative. As is taking the time to consult the casino’s published terms and conditions, so you know exactly what you are signing up for.

Finally, be extremely wary when it comes to the geographic exclusions outlined by most online casinos. If an online casino clearly states that players from Brazil are prohibited, signing up is inadvisable. Even if you are able to gain access to the casino via a VPN, they could still withhold any winnings you collect and terminate your account at any time.

Unless it specifically states that players from your country are welcome to join, it’s best to assume that’s not the case and take your business elsewhere. 

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Original source: https://www.casinopapa.co.uk/casino/brazils-online-casino-market-expanding-at-a-rapid-rate/

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