Brazil Senate Committee Approves Gambling Bill
As we reported in previous reports, Brazil has the fifth largest population on the planet and the potential for online gambling is massive. Wednesday saw a major step in making online gambling a reality with the Senate’s Special Committee on National Development approving the text of the 186/2014 legislation. In terms of the legislation there would be as structure put in place that would permit electronic bets, sports betting, bingo halls, land based casinos and horse racing.
The next step in the process is a vote by the Full Senate which if approved will then be sent on to the lower house Chamber of Deputies. The exact nature of what forms of online gambling will be approved is not clear but the draft does specify that the National lottery operator Caixa Economica Federal and its subsidiaries would enjoy exclusivity to offer online sports betting.
The exact amount of land based casinos that will be allowed is also not clear but earlier draft versions allowed up to 35 with certain regions been given a priority in order to give them an economic boost.