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The devil you know


Brazil


With legalised sports betting imminent the gambling market in


Brazil is about to see one of its most significant changes in years. Companies are already increasingly


present via sponsorship deals with top clubs and leagues as they jostle for


attention in what is expected to be an extremely competitive market.


Te Brazilian government could finally green light casinos and expand the offer of online gambling along with other types of games. At the same time increasing pressure is coming from the courts to overturn Brazil’s Criminal Contravention Act, which made gambling a crime as far back as 1941.


However, any changes to gaming law reform will depend on events now unfolding due in large part to Brazil’s failed COVID-19 response. Beyond the horrendous loss of life, the crisis will play a decisive role in the upcoming election and shape government policy for years to come. In the short term, President Jair Bolsonaro and his allies will need to weigh up the political cost of permitting casinos and other forms of gambling against the urgent need to raise revenue.


Te pandemic has already brought with it the worst economic slump in decades. COVID-19 hit as Brazil was still recovering from its 2014-16 recession and Brazil's economy shrank by as much as 4.1 per cent in 2020. Nearly 14 million people were unemployed in Brazil at the end of 2020. Brazil's economic activity surged in February, but the second wave means that economists have been revising down their 2021 growth forecasts for Brazil. Meanwhile, the cost of the pandemic relief aid package designed to help the poorest sectors of society is skyrocketing. Government debt has now risen to about 90 per cent of gross domestic product.


With a death toll of over 400,000 President Jair Bolsonaro’s handling of COVID-19 has been nothing short of disastrous. Whether it was criminal will now be determined by a parliamentary inquiry conducted by 11 of the country’s 81 senators. Tis was after the Supreme Court called upon the Senate to probe the government's handling of the pandemic. Although the parliamentary commission is not a judging body, it has the power to gather evidence to make the case for impeachment.


In March 2020, Bolsonaro told Brazilians to “stop whining” about the country’s deaths from the virus. While deaths were in the hundreds in April 2020, Bolsonaro suggested fasting and prayer, so that “Brazil can free itself from this evil as soon as possible.”


In the same month, as numbers continued to rise the ex-paratrooper and evangelical dismissed it as a ‘mild flu.’ As this ‘mild flu’ began to kill thousands President Bolsonaro, arguing that the collateral damage to the economy would be worse than the effects of the virus itself, refuseing to impose lockdowns, promote social distancing or even wear a mask. Indeed, he openly challenged the advice of health officials, and clashed with state governors and mayors who imposed lockdowns. Like Donald Trump, he also began to promote ineffective treatments, such as anti-malarial drugs.


In May 2020, Bolsonaro said that Brazil would achieve herd-immunity. A new and more contagious COVID-19 variant (P.1) was discovered in Manaus in early 2021. Te health system was not prepared to handle such a large volume of cases. Only in March, with Brazil recording the third highest death rate in the world, did he finally turn his focus to the


NEWSWIRE / INTERACTIVE / MARKET DATA P67


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