Interactive
Brazil – Online betting could triple during Brazil World Cup
By Phil - 28 January 2014
Analysts believe that despite being banned in Brazil, online sports betting in the country could triple when Brazil hosts the FIFA World Cup later this year.
Although online gambling is currently banned in Brazil it is estimated that Brazilians gamble US$600m a year via offshore sports betting sites.
It is believed that the Finance Ministry is currently looking at the legalisation of sports betting and that under current plans a body which would be responsible for gaming within the Ministry of Finance would be created. Under new laws the Brazilian state lottery (CAIXA) could have the right to offer sports betting.
Unfortunately for now the exact details of how both online sports betting and possibly bricks and mortar sports betting would be regulated remain unknown and so far this year there has been no official word on the issue. However, the government will have to act quickly if it wants to take advantage of its growing popularity given that the World Cup is scheduled to begin in June.
It has been revealed that as many as seven million tourists could visit Brazil this year. Speaking during the inauguration of the International Tourism Fair 2014 held in Madrid Director of Tourism for International Markets for the Brazilian Tourism Board (Embratur) Leilla Holsbach said that a record number of tourists will arrive for the World Cup with an estimated 600,000 visitors coming to see World Cup matches alone. Brazil’s staging of the World Cup has seen major improvements and changes to Brazil’s infrastructure with a multibillion dollar investment program to improve stadiums, update airports, roads and railways.
“Airports are being expanded and infrastructure has been improved as far as transport is concerned,” Ms Holsbach said.
She also said that hotels have also been greatly improved along with an increase in the number of hotel rooms.
Brazil’s hosting of the World Cup and has led to growing speculation that the government could green light online gaming and possibly bricks and mortar sports betting as well.
Meanwhile the government continues to lose out on gaming tax revenue as according to the Ministry of Sports, which commissioned a study into the issue in 2011, Brazilian sports betting turnover made via offshore sports betting sites amounted to US$300m on Brazilian sports alone.
