Brazilian Senate Committee Approves Internet Gambling LegislationLawmakers Eyeing $17 Billion Gambling Industry |
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A Senate committee in Brazil’s government has approved a bill for online gambling and brick-and-mortar casinos. The vote last week was another step in a years-long process to reform the gambling industry.
According to reports, the bill is now up for a possible vote by the full Senate. A similar bill advanced out of committee nearly a year ago, but it didn’t gain enough traction at the time.
Brazil banned casinos about 70 years ago.
The most recent legislative efforts to establish a lucrative casino industry come thanks to a struggling Brazilian economy.
The country’s potential gambling market has been estimated to be worth $17 billion a year, with about $6 billion coming to the government in the form of taxes.
Under Brazilian law, poker and horse betting are allowed because of their skill components. The country also allows the lottery. Major live poker tournaments do take place in the country, but they must be held in so-called poker associations.
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