A Senator from Brazil has introduced a bill that would legalize online betting in his home country, potentially bringing billions of dollars in tax revenues every year.
Senator Ciro Nogueira is proposing to regulate online casino games, poker, bingo, and sports betting within Brazil, with operators paying a 10% tax rate on Gross Gaming Revenue. Currently only live poker tournaments, horse racing, and lotteries are legal in terms of betting in the country.
Under Nogueira's bill, the federal government would tax 7% of operators' GGR, with the province in which the operator is licensed taking a 3% cut. It is estimated that online betting could haul in tax revenues of $6.8 billion per year.
Brazil has a population of just over 191 million people, and is a popular tourist destination that features a diverse environment that could haul in more punters. The country just got done hosting the FIFA World Cup, and is looking for new ways to bring in additional revenue.