too long had no option but enjoy games of chance offered illegally. Terefore, the Brazilian gaming market, whose total turnover is currently estimated to be more than US$13bn per year, has been severely hampered by the lack of a clear all- embracing legislative framework.
In 2015, the government took the first steps in liberalising its gaming market by permitting instant lotteries, both electronic and online, with a product called Lotex, which is expected to generate revenues of around USD 2 billion per year. Public tenders for selecting the operator lasted several years. Only in 2019 the consortium formed by SGI and IGT won the bid for Lotex. It was expected to be fully operational by this year but the pandemic has put everything behind schedule.
In 2018, further legislation was passed to legalise sports betting, both online and terrestrial. Regulations should be issued by the Ministry of Economy but it has not happened, so far. Recently, President Bolsonaro included sports betting in the National Privatization Plan and has entrusted the Brazilian Development Bank (BNDES) with the responsibility of executing and monitoring the privatisation process. Also, on August 7th 2020, the Government has issued a piece of legislation opening the possibility for selling to the private sector all federal lotteries, currently the 18th world’s highest position in gross lottery sales (almost US$4bn per year) and therefore with a significant potential for future economic growth.
On top of that, over the last years, there has been enough parliamentary support to approve gaming as a whole and there are several bills ready to be voted on in parliament allowing wagering on the full spectrum of games in Brazil. With proper discussion, based on solid and credible information, the Brazilian focus should naturally be supportive as it will impact positively on much needed tax revenues in these turbulent times. Furthermore, the general public also should be supportive of introducing proper regulations aiming at protecting the interests of minors, punters and their families.
Notwithstanding all the above-mentioned delays, caused largely by prejudice and political uncertainty, both the local and international gaming industry remains interested in Brazil’s gaming market and being part of a well-regulated reputable industry.
Unfortunately, the industry hasn’t always helped itself and it would certainly be key if the gaming industry would speak and act in a more coordinated way, which will most definitely require a more collaborative agenda amongst industry stakeholders. In a nutshell: considering Brazil’s history and the current crisis situation, anything can happen, including nothing. Brazil’s potential to become the world’s largest gaming market remains undisputed and a major attraction. It still is one of the 10 biggest world’s economies, with a population over 210 million people. Brazil is a superlative country!
With proper discussion, based on solid and credible information, the Brazilian focus should naturally be supportive as it will impact positively on much needed tax revenues in these turbulent times. Furthermore, the general public also should be supportive of introducing proper regulations aiming at protecting the interests of minors, punters and their families.
NEWSWIRE / INTERACTIVE / MARKET DATA P69
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