Millions in taxes lost
While a measure legalizing casinos continues to flounder in Brazil’s Congress, a bill that would legalize sports betting in the country is ready to submit to the country’s legislature, according to the website Yogonet.com, citing a statement from José Magnho, president of the Brazil Institute for Legal Gaming.
In the Panorama Deportivo section of Oglobo.com, Magnho said an official of the Brazilian Finance Ministry discussed legalizing the activity at a panel session on the Latin American gaming market at the ICE Totally Gaming show in London.
“Only the online market moves US$35 million annually with around 40 sports betting sites currently operating in Brazil’s gray zone, with servers working both inside and outside the country,” he wrote.
