During the past decades, the global gambling world has expanded rapidly. Many countries have come to accept the idea of regulated gambling markets with the hopes of profit maximization and meeting emerging demand. With increasing participation in gambling, countries need to mitigate risks by creating policies aimed at safeguarding citizens and maximizing tax collection while restricting illegal gambling. In this article, we take a closer look at three nations, Thailand, France, and Brazil, which have recently developed newly launched gambling markets or are about to do so.
Thailand: A Step Toward Legalizing Gambling
For a long time, Thailand has been recognized for its questionable gambling laws, particularly the fact that wagering, aside from the government-operated lottery and some horse race betting, is forbidden.
In 2024, the government of Thailand stated that it would start preparing the ground for the legalization of casinos and other gambling businesses. This decision is related to Thailand’s focus on increasing revenue, particularly trying to boost its underperforming tourism sector after the pandemic-fuelled recession. Countries, where revenue from tourism is their primary source of income, can leverage a steady flow of tourists so long as those tourist souvenirs include legalized and well-regulated casinos.
France: Reforms to Adapt to Changing Trends
Nowhere in Europe has gambling legislation progressed at the pace that French legislation has in recent years. All gambling, including internet gaming, is legal in France and subject to the jurisdiction of the French National Gaming Authority (ANJ). France has started feeling the effects of online gambling, and sports betting in particular. Its laws need to be reexamined and restructured in accordance with internet consumer behavior and technological changes.
In the 2024 budget, the French authorities planned amendments to broaden the reach of the French gambling market, particularly in the domains of online sports wagering and iGaming.
The changes were aimed at making the online gambling market in the country operate in a manner that is safer, more transparent, and more competitive for operators and end users alike.
Brazil: Preparing for a Booming Industry
Next up on our list of newly launched gambling markets is Brazil. With a diverse population, Brazil has always been careful when it comes to gambling. For decades, the country has banned most forms of gambling. However, the potential economic value of a legalized gambling market has become clear, especially as Brazil tries to modernize its tourism sector and develop new sources of revenue.
Brazil took an important step towards gambling in 2023, this happened when a law legalizing sports betting was passed. This marked the start of a more liberal gambling policy in the country. New regulations to supervise online betting and ensure compliance with local laws soon followed. The government has also shown a willingness to open the market for casinos and other gaming activities, seeing this sector as an opportunity to lure both domestic and foreign investment.
Why Countries Are Opening Their Markets
The case of Thailand suggests that countries are legalizing and regulating gambling for tax and revenue purposes. At the same time, gambling firms will enjoy a lower risk of illegal practices, which will allow more people to safely partake in gambling activities. Thailand and Brazil, for instance, are already concentrating on boosting employment opportunities and foreign direct investment which are highly beneficial for their economic growth in the long run. As more countries come to realize the benefits that gambling can offer, we can expect to see an increase in newly launched gambling markets in the future.
