State reps discuss gambling regulation in Brazil

Moderated by journalist Ana María Tahan, the panel kicked off with representative Augusto Coutinho speaking about the two bills currently under debate. According to Coutinho, the Senate proposal takes a much more federal approach to the issuing and management of licenses than the House proposal.

“Tourism numbers haven't been good,” Coutinho said, adding that resorts featuring casinos could boost Brazil's struggling economy. “I fully support legalization, as I believe it is the only way to crack down on illegal gambling.”

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The amount of money spent on illegal gambling each year is alarming.

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“We have the systems and processes to prevent money laundering. Prohibition benefits only a few,” he commented.

Elmar Nascimento highlighted the importance of creating regulation that provides a safe and transparent environment for consumers.

Last month, Brazil's President Michel Temer, sent a clear, strong message to international gaming stakeholders after meeting with casino mogul Sheldon Adelson. But despite optimistic forecasts, the political events taking place in the South American country are delaying the decision on gambling legislation.

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Regulation of sports betting and online gaming are key topics on the agenda, pointed out Nascimento.

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On the other hand, ex-state representative Regis de Oliveira believes the Senate proposal has inconsistencies and therefore should be reviewed. “It is vital to specify how the parties involved will benefit from the opening up of gambling in order to better monitor and control the industry. The Senate proposal has several loopholes.”

Former judge José Augusto Araújo Nieto claims the gambling bills under debate are very unclear. “The definitions are blurry and imprecise and Brazil needs to establish robust regulation to end illegality and corruption," he concluded.