In Brazil, there is no ban on bets placed on the internet, provided that the companies responsible are held on sites abroad. The law refers only to physical spaces. For this reason, there are no casinos in the country and all bets are linked to Caixa Econômica Federal.
The famous bingos are carried out illegally, in the same way that poplar local Jogo do Bicho does not operate in a regular way. There are also no betting sites in the country. Brazilians wishing to bet must do so through foreign platforms.
This means that it is possible to play without committing a crime. The number of people interested in placing bets or playing on the internet is growing, but Brazil does not raise money from it.
This is why many people advocate for law enforcement. So it would be possible to create Brazilian platforms and collect taxes. It is important to remember that the law was created in 1946 and has not changed since then.
Subject is discussed in the Chamber of Deputies
Bill 57/2011 discusses the prohibition of Brazilians on foreign gaming platforms, restricting the use of credit cards. Although the bill is against the legalization of sports betting, the project contributes to the issue being debated.
Some parliamentarians argue that games based on sports matches do not fit into the category of gambling, as winning or not depends on game results. If the practice is authorized it would help to reduce organized crime related to the informal market.
In an interview with Gazeta do Povo, Congressman Fernando Francischini said that gambling must be banned, but sports betting should be regulated. The deputy also states that taxes collected should be earmarked social actions.
Rep. Rubens Bueno, from PPS, agrees and affirms that the regulation aims to benefit athletes and the Brazilian sport in general.
How Betting Sites Work
Attentive to the great market of players in Brazil, companies of other countries, make available sites in Portuguese with several sport offer: volleyball, tennis, F1, MMA, cycling, darts, swimming, athletics, basketball, golf, football (the most important one in the country).
International competitions are part of offer, as are the national championships, such as the Brazilian Championship and the Brazilian Cup, for example. This encourages users to place bets on teams to cheer.
Another change made by companies is the adaptation of payment methods. In addition to paying by credit card, users can also make online transfers or use digital wallets.
One point that deserves attention is that the currency used is most often the euro or the dollar. Because of this, the bettors need to be aware of the exchange rate variation. This is another positive side in regulating the creation of Brazilian platforms. To compensate for this disadvantage, foreign websites offer sign up bonuses.
Conclusion
The issue remains inconclusive as long as bills of law are not passed or disapproved. Meanwhile, according to research by the Brazilian Legal Game Institute, Brazil fails to collect 2 billion reais (USD 615m) per year, considering the current scenario.
The liberation of Brazilian companies based in Brazil related to sports betting would increase the interest and, consequently, the number of bettors. This would generate an even greater tax collection than the one predicted by the government, moving the economy of the country.
Source: GMB / Futnet
