In a groundbreaking decision, the Brazilian government has recently passed a new ordinance that officially legalizes online games, including iGaming. The move comes after years of debate and discussion surrounding the regulation of the rapidly growing online gaming industry in the country.
The ordinance, which was announced by the Minister of the Economy, is set to have a significant impact on the Brazilian economy, as well as providing much-needed clarity for online gaming operators and players alike. The decision comes in the wake of a 2019 ruling by the Supreme Court that declared that individual states in Brazil have the authority to legalize and regulate online gaming within their jurisdictions.
With the new ordinance in place, online gaming operators will now be able to apply for licenses to offer their services to Brazilian players. This is expected to open up a wealth of opportunities for both local and international operators who are keen to tap into the lucrative Brazilian market.
The move has been welcomed by industry insiders, who have long argued that the legalization of online gaming in Brazil would help to combat the illegal gambling market, as well as generate significant tax revenues for the government. According to estimates, the online gaming market in Brazil could be worth billions of dollars annually, making it a potentially lucrative industry for both operators and the government.
In addition to providing a boost to the economy, the legalization of online gaming is also expected to have wider social benefits. By regulating the industry, the government hopes to protect players from potential harm and ensure that gaming operators adhere to strict codes of conduct. This is particularly important given the growing popularity of online gaming among Brazilian players, many of whom are vulnerable to the risks associated with problem gambling.
Overall, the new ordinance represents a major step forward for the online gaming industry in Brazil. With the green light now given to online games, operators and players alike can look forward to a more secure and regulated gaming environment, as well as the exciting opportunities that this burgeoning industry has to offer.
