Brazilian Government May Create New Brazilian Online Sportsbook!

The new Brazilian government is apparently considering attempting to make some money by creating a new Brazilian online sportsboo, run by the state!

In Brazilian gambling news, there could soon be a surprising new competitor when it comes to internet betting in Brazil. This new Brazilian online sportsbook is a possible venture thought up by Brazil’s interim president, Michael Temer. With the economy suffering, the online gambling is thought to be a market where the state can recoup some much needed funds.

The newspaper Folha de S.Paulo have claimed that Temer’s government seek to create an online sportsbook with the intention of then privatising it, along with the lottey run by the Caiza Econômica Federal Bank. This could provide over $2 billion for the state, a very useful sum when there are predictions of a 2016 deficit of $48 billion.

New Brazilian online sportsbook may arrive alongside new gambling legislation

While gambling in general is not legal, online gambling in Brazil has not yet been regulated. This has resulted in many players using foreign sportsbooks, and as such the Brazilian state cannot reap any benefits in the form of taxation. New legislation may involve the partial or total legalisation of gambling in Brazil.

One argument put forward by a senator is that Brazil much acknowledge that gambling is unavoidable, and so the state may as well benefit. Senator Ciro Nogueira: “Without getting into the ethical and moral discussion – which never gets anywhere – we come to the conclusion that gambling exists, always have existed, and will always exist.”

Check out Gaming Zion for more information about online gambling sites in Brazil.