Brazil’s Government Considers Legalizing Gambling
The Brazilian government is in talks with lawmakers to increase revenues by legalizing gambling, after they indicated that the government will struggle to take care of a budget deficit by passing a new tax, which will prove to be controversial.
International casino and game operators are anxious for an opening of Brazil’s gaming market, but it wouldn’t bring immediate relief to the government’s stressed finances.
The country is currently facing its worst recession in 25 years, and it cannot afford to sacrifice what could be R$23.5bn (£3.69bn) in annual gambling taxes. Many Brazilians gamble online, and the illegal gambling market is worth roughly R$18bn (£2.83bn).