The gambling industry generates over 35 billion dollars annually worldwide, but Brazil still does not have a stake in any of that cash flow. In an attempt to join that table filled with chips worth billions of dollars, the House of Representatives is on the verge of approving the Brazilian Gambling Legal Framework, that will set forth the legalization of casinos, bingos and even the “animal game”.
A report shows that less than 20 countries worldwide still lack a gambling framework. Most of these countries such as, Saudi Arabia and Indonesia are notoriously restrictive and conservative. Moreover, Brazil is the only country in Latin America that still does not have a gambling legal framework.
Considering all the advantages that the legalization could bring to the country (employment, tax revenues and increased tourism in several regions), some Congressmen have already demonstrated favorable positions on the matter.
Accordingly, it appears that the Bill would be approved sooner rather than later. Now is the time to place your bets!
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Best regards,
Almeida Advogados´ Team