In 2022, Filipe Senna, a specialist in regulation and gaming and betting, wrote an article about the history of gambling in Las Vegas and how public perception of the activity was changed by government measures aimed at safety, honesty, reliability, and transparency of games and bets. Today, given the crisis occurring in Brazil, his text gains more importance than when it was actually published, and he revisits it for the current situation.
In this article, I explore the importance of a regulatory milestone for the betting sector in Brazil, correlating the regulation of Las Vegas in the 1950s with our Brazilian reality. In Las Vegas, regulation not only brought transparency and safety to the games but also established the city as a respected entertainment center, changing the public perception of gambling, previously associated with illegality and organized crime by society.
Brazil is now at a similar crossroads, where the regulation of fixed-odds betting will bring economic benefits, create jobs, and contribute to tax revenue, as long as it is complied with and adopted in a responsible and transparent manner that has the proper trust of other sectors and society itself, as we are still at the beginning.
However, just like in the 1950s in Las Vegas, there are criticisms from retail, other sectors, and parts of society, who fear the negative impacts of gambling. These impacts, if well addressed, can be very well resolved and mitigated.
Thus, I reinforce, as in 2022, it is fundamental that the betting sector in Brazil works strongly with the government and other related sectors to build and consolidate a positive public perception about the legalization and regulation of fixed-odds betting.
The demonstration of adopting clear consumer protection measures, combating money laundering, and supporting responsible gaming, issues that are set in the regulation and are being adopted by those who indeed want to operate seriously in Brazil.
Advertising, marketing, operators, developers, associations, institutes, and groups must demonstrate that regulation is the necessary path to protect the market from the crises that are emerging and, at the same time, ensure that the benefits of the sector are widely perceived by the population are the main missions and objectives that the players and the government must adopt.
After all, even after 70 years, the history of Las Vegas tends to repeat itself in Brazil and, more than ever, we need to seek the happy ending that developed there.
Filipe Senna
Master in Law with a focus on regulation of games and bets. Partner at Jantalia Lawyers.
