The digital revolution of the internet has taken over our lives. We stream our TV, we find a job online, we communicate via internet powered tools and yet the world wide web is still under construction and evolving. Everything is online nowadays … the gambling scene has moved from a land based settling, and gone are the days where we need to suit up to be let in.
Today we gamble online and also enjoy our e-wallets online via online payments. This is 2020 and possibly, this is the biggest change in the gambling compared with our gameplay in the 90s. The internet has changed how we think, how we operate and of course how to enjoy our free time.
If we had to classify gambling, we’d brand it an interactive experience, and one of the up and coming and fast growing niches in Brazil. The LATAM market is growing and Brazil is envisaged to be at the forefront of the gambling industry. Let’s remember that Brazil has 209.5 million flying the Brazilian flag. The country is known for its football legends mostly, but let’s not forget that with a huge sports following, even casinos could be a massive sensation. .
The coming of the Millennials
Brazil is split into 2 parts. There are the high end regions where luxury, money and sports cars reign. On the other hand, there is the poor part of the country, where people beg on the streets, and hope to make it big in football to make a name for themselves. The common trait for both Brazilian parts is the notion of a digital world. Brazil is moving to a digital setup and they are moving fast. The younger Brazilian generation are introducing Brazil to a different era, the digital era. Wearesocial.sg has conducted a survey about social media usage and globally it is indeed Latin America that came out as having the highest percentage of people globally that spend the most time on social networks, especially Facebook. Will this translate into the Latam market evolving further and seeing Brazil as a front runner for online gaming?
When it comes to casino and gambling, the digital era is upon us, and it is quite the engaging one. When we switch on the TV, see gambling adverts, and our favourite football stars also are sponsored by some of the biggest brands. The continuous growth in gambling boils down to development, innovative and engaging platforms, CRM campaigns and even a mix of great promos that are targeted to lure you in. Bottom line, marketing and casino go hand in hand. The gambling industry might be regulated in some parts of the world, however we are moving to a day and age when borders, controls and all of that do not matter anymore. What matters the most is that the gambler has full autonomy when it comes to choice and support.
Brazilian internet performance like the rest of the world is tracked, and it is evident that Brazil is spending more time online, more time gambling and more time enjoying the little luxuries that life has to offer. One big boost to the economy nowadays is the digital world that we live in, where 500 employees in the 1950s could give you XYZ amount in output, today’s technology gives you more than triple the figure with a fraction of the said amount of employees. How will Brazil benefit from the evolution of technology? And how will online gambling influence the Brazilian market?
Bottom line is, if Brazil takes advantage of the growing online gambling market, the country will leap into uncharted territories, yet simply rewarding ones.
The advantages of taking regulatory advice
One of the best attributes for Malta is the Malta Gaming Authority. If there is something that has placed Malta on the map it is indeed its laws when it comes to gambling. Nowadays online casinos will don either a UKGC license, a Maltese Gaming Authority License or a Curacao license. Whilst the UKGC is very regulated and very strict, a Curacao license is deemed as not so stable. The MGA is an entity that is regarded as a solid one, with a laid back structure. Brazil has the opportunity to leap into online gambling following the steps taken by the UK and the Maltese Government ...and thus making the country a goldmine in the process.This approach and methodology could see Brazil crack into markets and benefiting from the following:
If Brazil takes up the notion of having a new regulated market, there are only benefits that can come out of the decision. So how will they make this happen? The key is simple, keep it simple, keep it clean and all will fall into place. The Rule of One concept, will make things happen.
Here are some points that Brazil might want to consider to have an effective and planned regulation:
Some points to avoid from other markets is of course having different tax models on remote gaming operations. The scope is to make it affordable for online gaming operators, to attract new business, hence Brazil would aim to keep tax brackets between the 15 -20% region. Anything above that will not be advantageous for operators, and Brazil would not be an attractive market to set up operation.
When it comes to the player, many restrictions would see casinos not an option to set up shop in Brazil. Many laws and regulations will hinder casinos and operators and will delve away from Brazil being the next online gaming destinations for gaming companies. Some countries also impose obligations for servers to be located at the same country of where the gambling license is offered ...this sometimes does not go well with companies, another point that Brazil would need to take into consideration. And as for game providers, one of the biggest headaches is to have every game licensed, another point that might halt the gambling market from developing further in Brazil.
If Brazil would like the market of outline casinos to work out and flourish, the answer is simple: online casinos with instant payouts. The notion of Pay and Play is rising in popularity with the online gambler and why not? The gambler will enjoy the joys of having their winnings funds reach them within a couple of hours, or dare we say minutes. Gone are the days if waiting days and sometimes weeks for your winnings funds. Instant pay online casinos is the future, and the gambler demands it.
Brazil is one of the biggest countries in the world. As mentioned earlier, the country seeks to find the momentum between the rich and the poor, and the world of online gaming is available to mitigate these factors. Will Brazil become one of the biggest LATAM destinations ...only time will tell!