Brazil’s iGaming Market had a huge growth in the online casino market in the recent years. It is believed that internet gambling can generate a lot of money. Brazil has had the best year ever in the online gambling sector. We can imagine the cash going through the system all thanks to the hard work of the RGA and KMPG. According to the Remote Gaming Association (RGA), Brazils gambling value in the market is very high. It is also believed that Brazil is sitting with over 2.1 billion dollars.
Brazil’s iGaming Market – Revenue Surpasses Expectations
KPMG made a study on behalf of the Remote Gaming Association and refers it to the gross gaming revenue across the country. The reason behind the report is that the commission was showing great support for Brazil and its government. The Commission regulates online gambling in Brazil.
All gaming activities which take place outside any government-based protocols, is in a position that can be dangerous if left unchecked.
It is likely for Brazilian residents and its government to implement sensible licensing requirements. This is based on the responsible gambling measures and realistic workable taxation rules that are based its gross gaming revenue.
Brazil’s iGaming Market – Market Regulations
The RGA pointed out that the unrestrained gambling market put customers at risk when working outside the reach of the Brazilian legal and tax lawmakers. By regulating betting activities, the size of the unregulated market would start to shrink. This will, in turn, create a safe environment for gamers to enjoy their gambling games.
The regulating commission
The RGA went on to say that it is possible to create an effective regulatory tax regime in the country. The RGA and its associates are keen on co-operating with the applicable authorities. Clive Hawkswood, Chief Executive of the RGA, said that ‘’the Remote Gaming Association has acquired valuable experience from multiple countries that are currently regulating their own online gambling markets, specifically Europe.’’