INSUBCONTINENT EXCLUSIVE:
(Sponsored) Brazil is following other countries by being on the edge of a major legislative shift
It has now been confirmed that the Senate is preparing to vote on Bill 2234/22, which aims to legalize different gambling forms like
land-based casinos, bingo, jogo do bicho, and horse race betting.This bill is nothing new, since it has been under discussion for a long
Now, it is in a state where it has cleared key hurdles and is waiting for final deliberation in the Senate plenary
rising in Brazil day by day
He is actively working to get the other key stakeholders on board as well.There are discussions underway between government representatives
and institutions like the Treasury, the Presidential Office, and the Ministries of Tourism, Industry, Commerce, and Services.Brazil Moves
Closer to Legalizing Casinos: Senate Vote Expected This Semester.The goal behind these discussions is to ensure that regulatory and
financial frameworks are aligned well before the final vote and decision.While more gambling options will be available inside the country in
the future, Brazilian players can now navigate through a larger market full of local and international casinos.To find the best platforms,
This allows players cross-border access, greater privacy, and usually a wider game selection.What the Bill Proposes: Casino, Bingo, and
MoreThe proposal is called Bill 2234/22, and it aims to legalize different forms of gambling, which are currently prohibited or operate in
legal gray areas in Brazil.The most important forms that will be legalized if the bill passes are land-based casinos, bingo, horse race
betting, and jogo do bicho.This would mean new traditional bingo halls and large-scale casinos
The main idea is to build a regulated and easily monitored gambling industry.For the country itself, this would mean more money
This is because the bill also introduces a specific tax mechanism.If the bill passes, all gross revenue generated by gambling operations
will be taxed with 17% CIDE-Jogos, which comes from the words Economic Domain Intervention Contribution for Games.Additionally, operators
would need to pay 20% IRPJ, also known as corporate income tax, on net prizes paid out to winners.This dual-tax strategy would generate a
lot of money for the government, which would be a good thing for the whole country and its residents.Economic Impact: A Boost for Tourism
and JobsAs we said above, this legalization would be a great thing for Brazil
There would be new destination casinos and integrated resorts that could pull a lot of revenue from domestic and international visitors.This
would boost employment and tourism, which reached a record number of visitors in Brazil last year
mean a legal reform, but it would also serve as a long-term strategy for sustainable economic growth.And this is true, since new gambling
operations would also create new jobs in industries like legal, hospitality, entertainment, and construction.Since the country is still
trying to recover from the pandemic, the casino industry could serve as a much-needed stimulus.Public Opinion: Brazilians Favor
LegalizationPeople in Brazil seem to be in favor of legalizing gambling
In fact, there was a survey conducted in April where over 5 thousand Brazilians were asked via telephone whether they supported the proposal
or not.The results showed that approximately 58% of the responders were for the proposal
awareness of the benefits of new and formal regulation is growing.People are starting to understand how the current system is not working as
arguments.Opposition Voices and Remaining HurdlesEven though the bill is progressing fast and people are for it, there are still opponents
the legalization by stating that the new bill would increase the risk of criminal activities like money laundering.Still, the bill stands
strong while the supporters argue that regulation is the best tool to address concerns such as money laundering.This kind of legal framework
would allow better monitoring, consumer protection, and other programs made to banish the underground market.With Senate President Davi
social promises can outweigh its perceived risks in the eyes of the majority.
