Black market. Source: Racing Post

Brazil Warned of Black Gambling Market Amid Strict Regulations

Tomas Carvalhes, Senior Business Development Manager at GR8 Tech, has raised concerns about the potential development of a black gambling market in Brazil due to stringent regulations.

During a recent industry event titled "Updates on Brazil and Latin America, Ping Pong Style," seasoned gaming executives discussed the current regulatory landscape in Brazil. Carvalhes highlighted the importance of self-regulation and learning from successful practices in markets that have implemented robust and effective regulations.

Carvalhes criticized the proposed gambling regulations in Brazil, expressing his inability to support them. He pointed out that the proposed rules impose numerous restrictions and limitations. According to Carvalhes, these strict regulations could inadvertently lead to the growth of an unregulated black market for gambling, rather than nurturing a healthy and regulated gambling sector.

In conclusion, Carvalhes emphasized the need for balanced and practical regulations that support the development of a legal and responsible gambling industry in Brazil, while avoiding measures that could drive activity underground.

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