Good news for the Brazil gambling industry. A new bingo and casino bill will expand the sector by allowing instant-win games and land-based casinos. Also, it calls for more effective regulation. Bill 2234/2022 got approval from the Constitution and Justice Committee of the Senate with a 14-12 vote. In addition, it ends the ban on casinos due to the 1946 Decree Law by former President Gaspar Dutra.
The proposed law in Brazil allows for one casino per state, However, popular tourist areas will have two casinos. Thus, Paraná, Rio de Janeiro, Minas Gerais, Amazonas, and Amazonas would each be permitted two casinos. On the other hand, São Paulo may host three. According to the best gambling software provider, this organized distribution can better balance tourism expansion and regional development, sparking excitement for the potential increase in tourism.
In addition, the measure proposes new rules that will make bingo gambling easier. Municipalities can operate bingo sites if the operators have a minimum capital of $1.8 million. These licenses would guarantee investment in the sector for the long run, as they are suitable for 25 years. The law also contains parallel regulatory provisions for jogo do bicho games.
Brazil Gambling Industry Expansion
The financial framework states that 80% of the money from bingo and casinos must go toward prizes and 40% from jogo do bicho. There will be a 20% tax on prizes over $1,800. The money will be put back into Brazil’s tourism, cultural, and sports industries to help society.
Bill sponsor Senator Irajá Abreu stressed the need to bring Brazil’s gaming legislation up to par with international norms. He stated that with the proper rules, Brazilians may gamble without fear of repercussions. The industry would reap huge financial rewards, including over $18.4 billion in income and many direct and indirect employment, offering hope for job seekers and the economy.
According to gambling industry news reports, legalized games of chance are becoming increasingly popular in Brazil, and this measure is a step in the right direction toward meeting that demand. Advocates have advocated for a complete framework to give adults more legal betting alternatives. Nonetheless, stringent safeguards to guarantee ethical gaming are incorporated into the law. It would create a National Registry of Prohibited Persons to stop employees, executives, and those with significant debt or insolvency from gambling (Renapro). A consumer protection system is also being proposed as part of this attempt to ensure the safety of gamers.
Unfortunately, not everyone with a stake is on board with the developments. Senators from the Evangelical Caucus are worried about the safety of players and are trying to change the law so that places with high crime rates are not allowed to have casinos. They say these changes shouldn’t move forward without strong protections for participants.
In summary, the Brazilian parliament’s passage of Bill 2234/2022 is a significant milestone in its efforts to update its gaming legislation and grow the sector. With a careful balance between regulation and economic possibilities, the government strives to provide a gaming environment that is both safe and lucrative. This will help address concerns about player protection and the societal repercussions of gambling.
Latin American Gambling Laws
Gambling regulation has recently been a hotly debated topic in Latin America. The Argentine system of gambling laws is fragmented since they are administered at the provincial level. For instance, the Instituto Provincial de Lotería y Casinos oversees Buenos Aires’s thriving gambling business, including offline and internet venues. The city’s strict rules guarantee a great degree of player safety and impartiality. However, the gaming experience and enforcement across the country might vary because various provinces may have different legislation or less developed regulatory frameworks.
Similarly, Mexico’s Ministry of the Interior oversees the General Directorate of Games and Raffles, responsible for gambling regulation. Licenses are necessary for operators to operate within the country’s strict legislative framework, which regulates offline and internet gaming. Mexican regulations prioritize consumer protection and the prevention of money laundering to provide a safe and fair gaming environment. Despite these restrictions, enforcement is not always consistent, and there are demands for more standardized rules and supervision to guarantee adherence and adequately safeguard players. Chile and Colombia are among the Latin American nations attempting to update their gambling regulations in response to the industry’s rising popularity and rapid technical development.
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