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Despite revealing in an interview with Veja that he has been in contact with government authorities in reference to a proposed gambling legislation, Jair Bolsonaro, the president of Brazil, has warned that he will not allow the market to be regulated, according to a report supplied by BNL Data.
“The measure will not count with the support of the government to be approved in Congress. And if it moves forward, I will veto the proposal,” he admitted, adding, “at this time, this is my opinion about gambling.”
Following these declarations, advocates of the Brazilian government who have fought for gaming regulation, such as Ciro Nogueira, the chief of staff, have expressed their concerns.
Arthur Lira, the president of Brazil’s Chamber of Deputies, established a task group specialising on gambling legislation, with jurisdiction over casinos, sports betting, bingo halls, online gambling, instant gaming, and other areas.
As a result, a regulatory initiative that had been stalled by the former Michel Temer administration may recover traction.
Originally, the plan was aimed at gaining lawmakers’ support before 2022, but Bolsonaro added: “Right now, gambling represents loss rather than winnings. If, by any chance, the regulation is approved, I have the chance to veto it.
“The Congress can override the veto, but what is being discussed right now will end up with me vetoing it. Period.”
Rooted in culture
Magno José, head of the Instituto do Jogo Legal and editor of BNL Data, recently affirmed that “gambling in Brazil exists and is rooted in our culture” during a public hearing in the chamber of deputies.
He continued: “In Brazil, as we do not have a legal gambling [framework], we also don’t have a public policy to deal with problem gambling, something that bookmakers don’t want to create. That’s why it’s so important to include the subject in the project that is being re-evaluated.”
Furthermore, the expert stated that Brazil’s gaming industry is worth roughly $13 billion. Meanwhile, unregulated gambling accounts for $5 billion of the total, with sports betting accounting for $1.8 billion, despite the fact that it is legal.