2024 is a year that brings great change to companies. domestic gambling industryThrough exciting innovations and radical changes to the regulatory environment.
Historic approval of online gambling games (commonly referred to as ‘betting’) by Brazil’s Chamber of Deputies and Senate (PL 3626/23) took place last December.
This milestone paves the way for entirely new regulations in 2024, representing a significant shift in gambling-related policies in the country.
Global growth of gambling
The world of gambling is constantly evolving, and 2024 will be no exception.
According to statistics and research website Statista, the global gambling and gambling market is expected to generate revenue of up to $107.3 billion in 2024, and the market size of the sector is expected to reach $138.1 billion by 2028.
From land-based casinos to innovative online platforms, the industry is experiencing a growing demand for immersive experiences.
This growth has been fueled by a combination of factors, including technological advancements, a more open mindset toward gambling, and the growing popularity of online casinos and cryptocurrency casinos.
The emergence of technologies such as virtual reality (VR) and artificial intelligence (AI) are changing the way games are developed and played. This not only attracts new players, but also maintains enthusiasts by creating an exciting and dynamic atmosphere.
Accessibility and new markets
Moreover, the accessibility offered by online casinos and the growing acceptance of cryptocurrencies are redefining the nature of gambling.
Using digital payment technology simplifies transactions and provides a more fluid experience for players.
Beyond that, as we will see in more detail below, mobile device users in most countries account for around 80% of all enthusiasts in the online gambling industry.
According to research published by the Gambling Commission in 2020, the most common way to access online betting is through mobile phones, especially among young people.
According to the Statista portal, in Brazil, market revenue is online gambling It is expected to reach $1.97 billion by 2024. This represents significant growth compared to the previous year.
The market is also expected to continue growing at an average annual rate of 16.51% from 2024 to 2028.
Gambling regulatory approval
For many years, Brazil has been closely observing changes in global industries and considering their impact. Finally, in late 2023, Brazil took meaningful steps to officially recognize the legality of gambling.
Previously, Brazilian laws were restrictive regarding this market, creating a difficult environment for operators and bettors. But the recent approval marks the beginning of a new era.
Legalization not only provides a clearer regulatory framework, but also promises a series of benefits for the Brazilian economy and gambling enthusiasts.
Adjusted tax recommendations, capping gross gaming profits at 12% and imposing a 15% tax on bettors on their net profits, plus an initial fee of up to R$30 million for licensors, are part of the package of changes.
This bill is not limited to physical casinos, but also applies to online casinos and other forms of gambling.
Economic Benefits of Legalization
The approval of gambling in Brazil is not only a win for gambling enthusiasts, but also an opportunity to boost the country’s economy.
Legalization brings a series of economic benefits that can have a significant positive impact, one of the most obvious being tax collection.
Through regulation, the Brazilian government can now capture revenue that was previously siphoned off through unregulated operations.
These additional revenues could be used to improve essential public services such as health and education. Additionally, legalizing gambling creates employment opportunities.
The opening of new casinos and the growth of the online sector is increasing the demand for a variety of professionals. dealer Even as a developer software Specializes in games of chance.
This move not only brings a new dimension to the entertainment of millions of Brazilians, but also lays the foundation for an exciting chapter in the country’s economy and entertainment.
Cryptocurrency Casino and Payment Trends
As Brazil embraces the legalization of gambling, a parallel trend that is gaining prominence is the rise of cryptocurrency casinos and the growing adoption of digital payments both domestically and globally.
These advancements not only modernize the experience, but also redefine the way financial transactions occur within the industry.
- Cryptocurrency Adoption: As gambling becomes legal, cryptocurrency casinos are gaining ground, giving players the option to transact using cryptocurrencies such as Bitcoin and Ethereum. The decentralized nature and inherent security of cryptocurrency provide players with a more transparent and secure gaming experience.
- Benefits for players and operators: Integration of digital payments offers benefits to both players and casino operators. Players can enjoy faster and more secure transactions, while traders benefit from operational efficiencies and reduced costs associated with handling real money.
- Technological evolution of user experience: The combination of legalized gambling and digital payments is driving technological advancements in user experience. Advanced graphics, immersive gameplay, and user-friendly interfaces are becoming the standard, providing players with a more immersive casino experience.
perspective on the future
2024 will not only see greater adoption of gambling in Brazil, but also a revolution in the way these games are accessed.
The convergence of digital payments with cryptocurrency casinos like BC.Game creates a more dynamic and connected industry where innovation is key to the next era of gambling.
This is undoubtedly a year of not only regulatory changes but also a complete transformation of the experience.
Get ready for a new chapter where technology and legalization merge to create a vibrant and exciting environment!