Brazilian President Jair Bolsonaro has threatened to veto legislation that would regulate the country’s gaming market.
Bolsonaro told an interviewer, “Right now, gambling represents loss rather than winnings. If, by any chance, the regulation is approved, I have the chance to veto it. The Congress can override the veto, but what is being discussed right now will end up with me vetoing it. Period.”
The statement alarmed members of Congress, who have been lobbying for regulation of the gaming sector. President of the Chamber of Deputies of Brazil Arthur Lira created a task force to develop legislation for sports betting, casinos, bingo hall, online gaming and so on.
Supporters of legalized gaming claim the overall gaming industry in the country is valued at around $13 billion with unregulated gaming estimated at $5 billion and sports betting at $1.8 billion.
