Is Now the Time For Brazil To Legalize Gambling?

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There have been more than 15 million confirmed cases of COVID-19 in Brazil. There have also been 400,000 deaths caused by the virus. Brazil's economy is in shambles due to adverse effects brought on by this pandemic. One voice is pushing for the legalization of gambling in the country to mitigate the impact of the pandemics on Brazil’s budget. Gambling in Brazilian has been illegal since 1946.

There have been more than 15 million confirmed cases of the virus in Brazil. There have also been 400,000 deaths. The virus has affected the economy. Senator Angelo Coronel is pushing for the legalization of gambling in the country. Brazil loses $9.3 billion in potential revenue each year by not regulating online gambling. It is projected that the revenue from the Brazilian sports betting market alone will reach $1 billion within the first five years. The gambling industry could create 700,00 new job opportunities. As the most populated country on the continent, Brazil presents a lucrative market for gaming operators.