This week a Brazilian politician revealed that the country is working on passing a bill into law that would legalize and regulate online betting within its boundaries.
The revelation was made by Herculano Passos who said that politicians are working on a bill that is known as SB 186/2014, which will have verbiage available next week and eligible for a vote in June. It is thought that a gambling overhaul in Brazil could be worth $6 billion annually, and online gambling could generate $900 million of that total.
Currently, Brazil is in a period of strife, as the country has voted to impeach President Dilma Rousseff, and there are serious economic issues also on the forefront of people's minds. If the president were to be impeached, her replacement Michel Terner would be the one that has to sign off on an online betting bill. Terner has stated that he support gambling reform in the country of 200 million.
Casino Listings will update this story as more developments rise.
Obviously the news is great for the Brazilian punters and although the country is not in great financial condition I don't think it would take a negative effect over the eventual players activity.