888 Holdings Very Likely to Leave German Gambling Market [...]
Brazil’s Gambling Bill Suffers Fresh Setback
- August 13, 2015 By Nemanja L. -
Brazil are no closer to becoming a regulated gambling market as president Dilma Rousseff has delayed making a decision on Legislation 671-2015, with things not looking very good at the moment.
Gaming companies targeting the South American market were delighted to see the Senate approve said bill some two months ago as they hoped the new legal framework would ultimately allow online gambling operators to target Brazilian customers.
President Dilma Rousseff Yet to Sanction the Bill
However, Brazilian president Dilma Rousseff has failed to sanction the bill also known as MP Football, stating that the government needed additional time to review the framework.
Gaming operators with interest in the South American market had been concerned by the government’s failure to disclose the most important points of the new legislation and the latest developments are enough to suggest that the president may even veto the new bill at its passing.
While lotteries, horse racing and live poker are the only forms of gambling that are legal in Brazil, the 671/2015 legislation plans to introduce two new lotteries, one of which is believed to be similar to fixed-odds betting.
On top of that, many believe that some forms of online gambling would be deemed legal by the new framework, thus allowing world’s largest gaming companies to apply for licenses in Brazil.
Government Wants to Ensure Customers are Protected
However, even if the country could really use extra cash that taxes on online gaming would definitely bring due to excessive costs of organizing 2014 World Cup and 2016 Summer Olympics, it looks as though the ministers still have doubts over the latest gambling bill.
The government wants to gauge the expected impact of licensed sports betting on the society and ensure customers are well protected if 671-2015 is passed, and those are reportedly the main reasons why they have asked for more time before making a decision.
Together with the United States, Brazil is probably the world’s largest country where online gambling market has yet to be properly regulated, and while the country has made initial efforts to sort this out, it appears there is still a long way before residents of the country will be free to gamble at online website without worrying about the consequences.
YOU MIGHT BE ALSO BE INTERESTED IN THESE:
Malta Set To Introduce A Brand-New Gaming Legislation [...]
UK Gambling Commission Releases Formal Advice on Measures for Gaming Machines and Social Responsibility [...]