A new report by analytics firm Blask comparing the recent shutdown of Brazil’s online gaming market and India’s block of real money gaming (RMG) notes that both nations “achieved the remarkable feat of executing policy decisions that inadvertently result in institutional self-sabotage.”
The data cited in the report indicate that the country shut down a US$6.6 billion GGR industry, eliminating US$1.8 billion in federal tax as it cancels 85 licenses which cost US$5.4 million each – none of which are being refunded. The licenses are scheduled to be cancelled on 25 October whereas all betting sites and apps went dark on 6 October.
“Licensing moved Brazil’s market onshore, and the ban sends it back offshore,” highlights the report.
