Gambling in Brazil is of major economic importance declares Brazilian politician and businessman

Lea Hogg 8 months ago
Gambling in Brazil is of major economic importance declares Brazilian politician and businessman

Member of Brazilian Parliament João Carlos Bacelar stated that the newly proposed framework for the legislation of the gaming sector in Brazil will allow the State “to control, collect and regulate this practice in the national territory.”

The new fiscal framework for reforms in the legislation of the gambling sector was presented during a press conference. It was welcomed by gaming operators, economists and analysts and received very positively by the press. Bacelar applauded the fiscal regulatory framework for gaming in Brazil saying that it was a step in the right direction but more work was needed to allow Brazil to reach its potential in the gaming sector.

“Gradually, Brazil is discovering that every prohibition is almost always useless, because nothing solves it. There will always be opposing positions in relation to the games, but the worst situation is clandestinity, which feeds parallel crimes and the impossibility of clear rules,” João Carlos Bacelar – Brazilian politician and businessman

The Regulatory Framework for Games in Brazil and the working group in the Chamber is headed from a parliamentary front by Bacelar. He said that the first step of regulating sports betting is a good move but it requires more than these preliminary proposals as this alone does not meet the economic needs of the government. He elaborated that without online games such as casino, bingo, slot machines and aviator, fixed odds bets would represent only a third of the expected tax revenues. He carried on to speak about the two bills, 442/91 which has already been approved by the Chamber and 2234/22 which is currently being considered by the Senate where preliminary discussions have also taken place to formalise the legislation. However Bacelar believes that the proposals need to be revised “so as not to limit the potential of the betting sector in Brazil.”

Brazil has a potential of BRL 99 billion

The gaming industry in Brazil has the potential to account for 1 percent of the gross domestic product (GDP). Based on last year’s GDP figures, Brazil has a potential to reach BRL (Brazilian Real) 99 billion (US $19.47 billion). With taxation, this could generate revenues in taxes in access of BRL 25 billion (US $4.92 billion) per year. The industry would also create jobs, new investments and the opportunity to apply for various grants. Bacelar pointed out the project has to be adjusted to include the operation of casinos in resorts and licences for “jogo do bicho” and slot machines which are not included in the current version.  He carries on to say that “If they are not included in the legalization project, they will not cease to exist because there is a demand and, with criminalization, they will migrate from misdemeanours to truly criminal structures such as prison factions”.

We have an obligation to recognize gambling as an economic activity and that there is a ‘social fact’ that must be faced. Anyone who wants to gamble, and cannot do so according to the law, will look for it in the parallel market. an entrepreneur, like Al Capone, to give society what society wants,” João Carlos Bacelar – Brazilian politician and businessman

João Carlos Bacelar

João Carlos Paolilo Bacelar is a well known Brazilian businessman and politician affiliated with the Liberal Party. He was pivotal in articulating the Bill number 442/91.

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