The previous year saw Brazil as the world’s most promising new gambling market. Slotegrator experts and media partners have shared key insights into this exciting new market. They have changed its nicknames from “sleeping giant” to “a dreamland for gaming operators.”
When the country finally regulated online sports betting and casino gaming, Brazilian sports betting caused a massive stir at the end of last year. The passage of Bill 2.626/2023, passed in 2018 has been followed by the approval. This legalized sports betting, however, did not provide regulations. Regulations were approved after a healthy debate in a full session of the Chamber of Deputies.
A forecast predicts that in the next three years, revenue from the Brazilian sports betting and online casino market will exceed R$100 billion or $200.4 million. This revenue is expected to be primarily generated through tourism. It is one reason why so many online casino and sportsbook operators are considering investing in the country’s gambling market.
The founder and director of the awarded media outlet Focus Gaming News is Fernando Saffores. Focus Gaming News is Slotegrator’s media partner.
According to Saffores, operators need to consider Regulatory Framework, Enforcement Mechanisms, Collaboration, and Operator Interest before entering the market.
He also emphasizes the importance of noting that the success of the market will depend on effective implementation, ongoing monitoring, and adaptability to challenges that may arise.
Saffores said that international comparisons are needed. He said that experiences from other countries with similar regulatory frameworks should be looked upon. Assess how those markets evolved, the challenges they faced, and the lessons learned.
Saffores also highlighted the economic impact, emphasizing the importance of analyzing the economic effects of the regulated market. This includes tax revenues generated and job creation. Also evaluate whether the framework supports sustainable economic development.
