Recent new hitting from Brazil is that the federal budget of Brazil is almost about to shatter that they are facing severe deficit this time. In the recent report they have announced that they are running short of money and they met with the deficit of $48 billion for the year 2016 and Sports Betting it will be $40 billion for Sports Betting the next year. They are thinking about what would be the solution for Sports Betting this because they have to spend more than the revenue for the 5 years.
After sorting out some discussions the interim administration of Michael Temer’s have come forward with the idea that they are looking forward to form a state run gambling company. Initially they want to form it and governed by the state then it will be proposed once it is well established. When it gets completed then the revenue of $2.2 billion will be added to the state when it starts rolling they will take steps to privatize the gambling centers.
The gambling centers in many western countries are earning huge profits and this idea would really help Brazil to rebuild their revenue.