It’s not difficult to understand Moody’s labeling of “worsening governability” in Brazil, the globe’s fifth-largest country by area. Deciding to potentially legalize gambling now comes at a rather strange and perhaps baffling time.<\/p>\n
Less than 18 months ago, the country played host to the most active and profitable sporting event on planet Earth: the World Cup.<\/p>\n
The 2014 month-long tournament generated an estimated $130 billion in legal and illegal bets around the world. Brazil profited zero dollars on that colossal pot.<\/p>\n
Of course, Brazil does have another international spectacle coming its direction by way of the 2016 Summer Olympics. However, hosting the Winter or Summer Games tends to place financial strains on presenting countries.<\/p>\n
\n“They have political and economic difficulties,” International Olympic Committee Vice President Craig Reedie said recently to the Associated Press. “They have challenges. I think they and we will have to get through it.”<\/strong><\/p>\n<\/blockquote>\nNow that Bill 186 has passed committee, the proposition will head to the Senate’s general assembly. If approved, it would next make its way to the House of Representatives for endorsement and then off to President Dilma Rousseff’s desk for her signature, assuming she isn’t impeached before its arrival.<\/p>\n
A long journey remains in convincing both the public and lawmakers that gambling is in the best interest of the country.<\/p>\n
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Brazil is once again mulling gambling legalization, lawmakers in the cash-strapped country in the midst of economic devastation scrambling to find ways to fund the government without placing additional tariffs on citizens. The Brazilian Senate Commission for Regional Development and Tourism voted this week in favor of Bill 186 of 2014, legislation that would authorize […]<\/p>\n","protected":false},"author":42,"featured_media":33273,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18],"tags":[],"acf":[],"yoast_head":"\n
Brazil Special Senate Committee Recommends Legalizing Gambling<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n