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Brazil’s Urgent Push for Presidential Approval of Sports Betting Bill

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Brazil on the Brink of a Sports Betting Revolution with Presidential Bill Approval

Brazil is on the verge of a monumental shift in its sports betting landscape!

The pivotal sports betting bill, set to revolutionize online gaming taxation, awaits presidential approval.

Picture a thriving Brazilian economy bolstered by the legalization and regulation of sports betting, with billions in potential revenue.

Stay tuned as Brazil edges closer to unlocking a lucrative future in sports betting and online gaming with Bill No. 3626/2023.

Brazil’s Pivotal Moment in Sports Betting Legislation

Brazil’s sports betting and online gaming sectors are at a crucial juncture, as the nation eagerly anticipates the presidential approval of a landmark bill. Minister of Finance Fernando Haddad has emphasized the urgency of this matter, outlining that the fiscal and budgetary impacts of the proposed legislation, Bill No. 3626/2023, will only be felt in 2024 if it receives the necessary presidential nod and is published in the Official Gazette of the Union before the end of the current year.

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The Race Against Time for Economic Impact

The bill’s timely approval and publication are critical for Brazil’s economic landscape. Experts from the Civil House and the Ministry of Finance project that if the bill’s publication is delayed until 2024, its fiscal effects would only come into play in Fiscal Year 2025. To circumvent this potential delay, a strategy is being considered to issue the bill in an extraordinary edition of the Official Gazette, should presidential approval be granted promptly.

A Key Component of Brazil’s Revenue Increase Strategy

This legislation is a cornerstone of Minister Haddad’s revenue increase package, aimed at achieving a zero deficit goal for 2024. The bill, focusing primarily on sports betting, projects an initial revenue of 728 million reais in its first year post-regulation. However, this figure is expected to surge by 60% with the inclusion of online gaming in the regulatory framework.

Forecasting a Lucrative Future in Online Gaming

José Francisco Manssur, Special Advisor to the Executive Secretariat of Finance, has provided an optimistic forecast for additional revenue in 2024. He predicts that the income generated, including subsidy payments from operating companies, could surpass 3 billion reais. Furthermore, in a fully regulated market, the potential annual revenue is estimated to reach a staggering 12 billion reais within the next five years.

Conclusion: Brazil’s Anticipated Economic Boom from Sports Betting

As Brazil stands on the cusp of this regulatory breakthrough, the nation prepares for a significant economic upswing fueled by the legalization and structured regulation of sports betting and online gaming. With Bill No. 3626/2023 poised for presidential approval, Brazil is ready to embark on a path that could reshape its economic landscape, bringing substantial revenue and transforming its position in the global gaming market. This momentous decision will not only impact the Brazilian economy but also set a precedent for the future of sports betting and online gaming in the region.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Latam & Carribean

Endorphina Ventures into Peru’s Thriving iGaming Market

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Endorphina Expands into Peru’s iGaming Sector with Innovative Portfolio

As a seasoned gambling professional, staying attuned to industry advancements is crucial for identifying emerging opportunities. Endorphina, renowned for its innovative approach to online gaming and acclaimed titles like Oriental Dragon and Valentine’s Heart, is making headlines once again. The company has set its sights on Peru, a burgeoning hub in the Latin American iGaming landscape. In this comprehensive analysis, we delve into Endorphina’s strategic foray into Peru’s thriving iGaming market, exploring the implications for both the company and the regional gaming ecosystem.

Endorphina’s recent breakthrough in Peru marks a significant milestone in its global expansion strategy. As a fully regulated supplier in Peru, the company is poised to introduce its diverse portfolio of over a hundred games to local operators. With a focus on establishing swift partnerships with licensed online operators, Endorphina aims to expedite the deployment of its cutting-edge gaming content in the Peruvian market. This strategic move not only underscores the company’s commitment to innovation but also highlights its ambition to gain a stronghold in Latin America’s burgeoning iGaming sector.

“Commencing 2024 with vigor, Endorphina is thrilled to announce its authorisation as one of the premier slot game developers to enter Peru’s newly regulated market,” affirmed the company in a recent press release. This announcement comes hot on the heels of Endorphina’s successful partnership with Platincasino.es in Spain, showcasing the company’s momentum in expanding its global footprint.

February has proven to be a month of significant milestones for Endorphina. The launch of Book of Conquistador, a captivating 10-payline slot game, has captured the attention of players worldwide, further bolstering the company’s diverse game portfolio. Additionally, Endorphina’s recent collaboration with Casino777 underscores its strategic development initiatives and sets the stage for continued growth throughout the year.

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While Endorphina has yet to disclose the identities of its local operator partners in Peru, anticipation mounts for imminent announcements. As the company navigates this new frontier, its pioneering spirit and unwavering commitment to excellence are poised to reshape Peru’s iGaming landscape, offering players an unparalleled gaming experience and setting new benchmarks for industry innovation.

Endorphina’s entry into Peru heralds a new era of possibilities for the country’s burgeoning iGaming sector. With its innovative game offerings and steadfast dedication to quality, Endorphina is primed to leave an indelible mark on Peru’s iGaming landscape, paving the way for enhanced player engagement, operator success, and sustainable industry growth.


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