According to the current text suggested by the Pm, legalization must be authorized by the Ministry of Finance, which has a term of up to two years, which can be extended for another two more, to regulate the practice. However, this is expected to happen in the coming months of 2019.
According to experts in the area, the legalization of sports betting will bring several benefits to the country, especially the generation of formal jobs. In addition, it is estimated that, if this market were legalized and exploited, could bill, in the accounts of the Legal Gaming Institute, about R$ 18 billion(US$4.15bn) in taxes. In general, the legalization of sports betting is being considered as an advance and even as an alternative for the reduction of contraband and organized crime in this sector that todays work illegally.
Sports betting and unemployment in Brazil
Unemployment has always been a very delicate issue in Brazil. But for 2019 and 2020, forecasts are more optimistic. According to the International Labor Organization (ILO), the unemployment rate at the end of 2018 was 12.5%. For this year, the forecast is 12.2% and 11.7% in 2020.
According to the Organization, this change is related to the improvement of the economy and increase of jobs. In 2018, the economic advance was 0.7% and, by 2019, the expectation is 2.4%.
Among the Brazilian states, Santa Catarina stands out for having the lowest unemployment rate. Tocantins has shown encouraging figures and a drop in the number of unemployed. According to recent data from the National Household Sample Survey (PNAD), the unemployment rate in the region between October and December 2018 was 6.4%. The lack of jobs also impacts on social security, thanks to a drop in the collection of taxes for Social Security.
Breaking taboos, such as the ban on betting in the country, should speed up supply and vacancy and, consequently, decrease unemployment more quickly, exceeding the above predictions. The hotel sector and various services will be directly impacted. Other areas, such as construction, logistics, food and security, will benefit indirectly.
Many betting sites already operate in Brazil, but with the infrastructure allocated in countries with legislation for the operation of these companies. Brazilian bettors have exclusive content and support in Portuguese, but the Brazilian government does not collect any from these companies. With the installation of these websites in the country, even web developers will benefit from the new job offer.
In general, the regularization of sports betting is seen as a great initiative and will trigger many other economic and professional benefits for the country. Meanwhile, the segment still awaits the developments of the regulation of the new law. The new government, of economically liberal bases, must collaborate so that the effective of the permission for the bets in the country is consolidated.
Source: GMB / JM Notícia
