Brazilian Legalized Gambling Drawing Big Interest

Published Monday, September 05, 2016 -
Brazilian Legalized Gambling Drawing Big Interest

South America has had a rocky history and Brazil the largest country in Latin and South America is no exception. It is the world's fifth-largest country by both area and population and the Brazilian Congress just impeached the country’s leader Rousssef leaving the country in political turmoil once again.  

The vast nation of more than 190 million people has a core culture that is derived from Portuguese culture, because of its strong colonial ties with the Portuguese empire. The lottery style game Jogo do Bicho called the animal game is an illegal gambling game in Brazil, prohibited by federal law since 1946 but it is very popular throughout the country.

There are twenty five animals to choose from and wager on and over the decades, superstitious theory has evolved around selecting the proper animal, much of it involving dreams. Gamblers in Brazil are like punters in many parts of the world they are superstitious.

A recent article in the Financial Times has suggested the Brazilian government may have seen the light and will move to legalize gambling federally. At this point many district governments tolerate and turn a blind eye to the illegal gambling trade being offered and run by mafia bosses and corrupt public officials that has an estimated worth of $3.7bn USD per year.

The proposed move is attracting huge interest from the world’s casino operators and betting groups.

“It would be one of the most significant events in gaming history if Brazil opens up to the gambling sector,” UK bookmaker William Hill stated.

William Hill, rival Ladbrokes  the US casino group MGM Resorts International, and Sweden’s Betsson and NetEnt all mentioned they are interested in expanding into Brazil once the jurisdiction has been regulated.

“The Brazilian market has enormous potential with a population that has long enjoyed a love affair with football which is Ladbrokes’ fastest growing product,” says the bookie, while MGM highlighted its interest in “large-scale integrated resorts”.


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