Brazil May Still Be Several Years Away From Regulated Online Gambling

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Brazil May Still Be Several Years Away From Regulated Online GamblingIn the last few years, countless countries around the globe have implemented regulated online gambling. As many countries aim to claim their small share of this hot young industry, even nations that have opposed online gambling in the past are now taking it into consideration today.

Unfortunately, despite initial expectations to the contrary, Brazil will likely not being among the next to green light online gambling.

Although an online gambling bill was presented to the Brazil Senate in July 2014 by Sen. Ciro Nogueira, it looks as if it could be several years before Brazil’s government really takes notice, PokerNews reports. While the somewhat slow process does not come as a surprise to many, the estimated $8 billion in unregulated online gambling already occurring each year in Brazil leaves many wondering why the process is not being accelerated.

If adoption for online gambling has already reached the estimated $8 billion annually, the market is clearly there and the potential for tax revenue is quite impressive.

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