Country Spotlight : Why Brazil Could Be The Hottest New Online Gaming Market
Intrepid entrepreneurs are always looking for new markets to enter, especially when rapid developments in legislation, technology, and demographics suddenly make them more attractive to global pioneers.
With the rise of Internet ready mobile phones and devices, as well as cryptocurrency and blockchain, starting your own online gaming business from anywhere in the world has never been easier. BetProtocol provides all the technology required to deploy your gaming dapp in many jurisdictions worldwide.
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In this post, we will talk about Brazil and the up and coming Brazilian market for online gaming.
When Brazilian President Jair Bolsonaro was elected in 2018, many feared that his conservative policies and stance would be detrimental to efforts to legalise online gaming and casino enabled resorts in the country.
Surprisingly to his critics, Bolsonaro’s position has actually shifted to a more progressive outlook towards online casinos. In a meeting with Brazil’s head of tourism Marcelo Álvaro Antônio, and Congressional leaders Vitor Hugo and Newton Cardoso, Jr. the topic of liberalisation and regulation of the online gaming market in Brazil was discussed. The results of the meeting were mostly positive to those looking to enter the gaming business in Brazil:
The president told Cardoso Jr. he was in favor of legalizing casinos in Brazil, but he believed each state should enact their own regulations. — Casino.org
Mayor Marcelo Crivella of Rio de Janeiro, Brazil’s most popular tourist destination, is among the forefront of lawmakers in the country who are pushing for regulation and legislation of online gaming in Brazil.
Crivella recently said:
“We are fighting now so that the Brazilian [National] Congress will allow us to have casinos here, something that the modern world already enjoys and that we [also] want to have [here] in Rio.”
Why politicians are pushing for regulation in online gaming in Brazil is clear. The tax revenue implications are in the billions, while the potential to create hundreds of thousands of jobs is an opportunity that the country cannot miss. Although the unemployment rate in Brazil is falling under Bolsanaro’s presidency, the country still suffers from greater than 11% unemployment.
“We need people to invest, important people, to work together with us.” — Crivella
Tax revenue from online and land based gaming would bolster government coffers in order to fund failing public infrastructure and social programs. While on campaign to legalise gaming in Brazil, Sentator Nogueira said that regulated gaming would bring a much needed $5.2b in new tax revenue per year, while creating over 600,000 direct jobs.
Brazil is a country to watch closely as the next up and coming market to start your own online gaming operation. As legislation matures and the market opens, new online gaming entrepreneurs will enter and take advantage of these unique opportunities. BetProtocol provides all the technical requirements necessary to startup your own online gaming business. Could Brazil be your next destination?
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