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A review of the complex and fascinating history of the games of chance activity in Brazil

Friday 24 May 2024 / 12:00

SoloAzar Exclusive

2 minutos de lectura

(Buenos Aires, SoloAzar Exclusive).- A journey through the history of the game in Brazil, one of the most fascinating and complex markets in the world of betting that today faces challenges to achieve its regulation.

A review of the complex and fascinating history of the games of chance activity in Brazil

The history of betting in Brazil is fascinating and has undergone several changes over time. In this article, we look over its most important points.

“Jogo do bicho"

Historians claim that Europeans brought gambling to Brazil in the 16th century during colonial times, introducing card games, dice, and other means of entertainment. One of the most notable aspects of gambling in Brazil is the “jogo do bicho” (bug game), an illegal lottery that has existed for more than 125 years. This game originated in 1892 when Baron João Batista Drummond sought to attract visitors to his zoo in Rio de Janeiro. The baron would choose an animal from a list of 25 and place its image in a wooden box at the entrance to the zoo. Players bet depending on the animal selected. Although prohibited by law, “jogo do bicho” has survived more than 30 governments in Brazil, from dictatorships to democracies.

It is estimated that in 2014, the “jogo do bicho” raised between 1,300 and 2,800 million reais (between US$ 260 and US$ 554 million). Furthermore, 15% of the Brazilian population says they bet or have bet online, with an average of 263 reais per month in sports betting

Regulation and prohibition

Throughout history, Brazil has oscillated between allowing and prohibiting gambling. In 1917, the government created the first national lottery called the “Federal Lottery,” and its creation quickly became a huge phenomenon. However, that same year casinos were banned This tension between prohibiting and allowing was seen again in 1934, since during the government of Getúlio Vargas, betting was allowed again. However, in 1946, sports betting was prohibited again.

Recent legalization

On December 12, 2018, President Michel Temer approved Bill No. 13,756 that authorizes the operation of betting houses in Brazilian territory, however, after 5 years, the project was still awaiting its due approval and publication through of the responsible sectors.

In December 2023, President Luiz Inácio Lula da Silva signed into law a law regulating sports betting and online gaming, including casinos, in Brazil.  This law establishes a framework for the operation of these games and imposes taxes on both companies and bettors. Although online sports betting is legal, it is not yet fully regulated.

Conclusion and expectations

In conclusion, the history of betting in Brazil is a journey full of ups and downs, from the creation of “jogo do bicho” to the recent legalization of sports betting. The market continues to evolve and adapt to current trends where, without a doubt, online games have become the new star in the betting scene.  

2024 will be a year of changes for the iGaming industry in the region, especially for initial investors in this market, who will have to find a way to overcome the uncertainty of this new legal framework. If they achieve this, all indicators show that market trends will be upward.

Categories: Exclusive

Tags: online gaming, Sportsbook , SoloAzar,

Region: Europa

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