RGA report values Brazil’s online gaming market at over $2.1bn
A report commissioned by the Remote Gaming Association (RGA) has valued the Brazilian online gambling market at more than $2.1bn (€1.8bn).
KPMG carried out the study on behalf of the RGA, with the estimated valuation referring to gross gaming revenue (GGR) in the country.
RGA commissioned the report with a view to supporting Brazil’s government with its anticipated efforts to regulate online gaming in the country, with all current activities taking place without regulation.
In a statement on its website, the RGA said the report concluded that through a combination of responsible gambling measures, as well as sensible and effective licensing requirements, and a workable taxation regime based on GGR this would bring about the “best possible outcome for all”.
The RGA added: “Importantly it would also significantly reduce the size of the unregulated market which puts consumers at risk and operates beyond the reach of the Brazilian tax and legal authorities.
“It is the RGA’s view that an effective regulatory and tax regime could be implemented in Brazil in a relatively short period of time.
“The RGA and its members are therefore very keen to co-operate with the Brazilian authorities, share the experiences of its members and bring international best practices to the market.”
Clive Hawkswood, chief executive of the RGA, also said: “We have acquired valuable experience from a number of countries already regulating online gambling, most especially in Europe.
“The common theme in all those jurisdictions is a workable licensing regime open to international operators coupled with a GGR based tax model.
“We therefore strongly believe that if the Brazilian government follows these examples it will achieve sound public policy objectives.”