Why Brazil is Set to Become a Haven for Online Casinos

Even though the world wide web has been in existence for over two decades, and quickly transformed our way of communicating and working, it is still currently evolving. One of the main areas that the internet has changed is that of entertainment.

People require on-demand activity and interactivity, and if they don’t find it, they will move on elsewhere. Online gambling is a pivotal part of interactive entertainment. One of the fastest-growing industries, it fits well within the Brazilian mindset.

Brazil’s relationship with gambling is an enthralling one. Though the country is predominantly Catholics and religious ties run deep, it might not usually bode well for the gambling industry. In fact, there are plenty of restrictions in place on how Brazilians can opt to gamble. Over the last few decades, there has been a ban on games of chance, albeit a few restrictions.

History of Gambling in Brazil

Brazil’s strict laws began to take shape back in 1941, when the Criminal Contravention Act outlawed all games of chance in Brazil, offering jail time to those caught doing so in public. This was followed by all previously issued licenses nullified. By 1946, there were virtually no casinos left whatsoever in the country.

More restrictions would take place over the next few years. In the 1960s, licences for lotteries were also pulled out, leaving only the state-owned bank the monopoly to run a national lottery and games.

This situation still prevails today, with state governments only permitted to run their own lottery drawings.

Some liberalization did come into place eventually, but what is and isn’t allowed is still unclear. For example, bingo halls were legalized, but can only operate if it benefits sports clubs as a means of charity.

Online Gambling Not Permitted

As you can imagine by now, Brazilian authorities aren’t that sympathetic towards online gambling. Although running an online casino is illegal in the country, it does not stop Brazilian players from playing on offshore sites.

You will often spot Brazilians in poker rooms and online casinos. In 2014, a law was passed to ensure that online transactions are subject to Brazilian law as a targeted market in a bid to cut the flow to these offshore sites.

Some of the world’s leading online casinos allow Brazilians to play on their sites. Featuring leading software providers such as NetEnt, Playtech, Microgaming and Betsoft, Brazilians can enjoy gambling at leading casinos, such as Jackpot City, Betsson and many more. Most importantly, since these casinos support Brazilian currency and language, players don’t incur any conversion charges.

The Future of Gambling in Brazil

Since the country’s economy is mired in recession, Brazilian politicians are looking into potentially authorizing gaming expansions, to bring in more revenue.

Some reports have stated that lawmakers are looking into allowing some forms of gambling instead of raising taxes. The idea behind is that since Brazilians are already gambling online in other countries, legalizing it would bring money back within the nation’s borders.

The fact that this is now being taken into serious consideration bodes well for the future of online gambling.