Today’s new online gambling regulation in Brazil could lead to a market worth US$4.9 billion in annual revenue, according to a report by Vixio.

After many years of anticipation, Brazil’s Ministry of Finance today published an ordinance that will allow operators to apply for licences to offer sports betting and online gaming in a country of 200m+ people.

This could make Brazil the largest regulated online gambling jurisdiction globally, surpassing markets like Australia, France and New Jersey.

James Kilsby, and Chief Analyst for Vixio GamblingCompliance, said: “Today’s ordinance confirms that Brazil is set to complete its transition into a fully regulated market for online gambling over the course of the second half of 2024, with initial licences and new legal prohibitions becoming effective right at the start of next year.

“Operators will have to decide quickly whether and how to proceed, however, as only those who apply within 90 days seem assured of receiving their licence, if their applications are successful, before the market is launched. The industry will also be hoping for additional clarity from the regulator within this initial application period, with critical policy questions regarding local investment partners, permissible forms of online gaming and the scope of a prohibition on bonuses among several issues that are yet to be fully resolved.”

BetMGM, a leading sports betting and iGaming operator, and PlayAGS Inc. announced the omnichannel launch of Rakin’ Bacon Odyssey in Michigan. The slot game is exclusively available in Michigan on BetMGM and Rakin’ Bacon Odyssey slot machines are now at MGM Grand Detroit in Michigan.

“Rakin’ Bacon Odyssey is a fantastic example of BetMGM’s omnichannel advantage. We are incredibly proud to be the exclusive online home of the newest version of this popular game in Michigan which has proven to be the top state for iGaming,” Oliver Bartlett, Vice President of Gaming Product & Content at BetMGM, said.

Rakin’ Bacon Odyssey is the newest iteration of Rakin’ Bacon, a slot that players have gone hog wild for since PlayAGS released the game in 2018. In Rakin’ Bacon Odyssey, Cornsquealius, the iconic golden pig, goes to ancient Greece for new adventures. The 3×5 reel slot expands to 6×5 during the bonus feature and includes 7776 ways to win. Rakin’ Bacon Odyssey has four jackpots that can be won online on BetMGM or at MGM Grand Detroit.

“We are thrilled to announce the launch of Rakin’ Bacon Odyssey in Michigan with BetMGM, a pivotal expansion for our iconic ‘golden pig’. This launch underscores AGS’s unique position as a premier provider spearheading the omnichannel experience. Our commitment to seamless, cross-platform gameplay sets us apart in the industry, allowing us to offer extraordinary gaming experiences that bridge the gap between land-based and online venues. By partnering with BetMGM, we’re not just following industry trends—we’re creating them and setting the gold standard in omnichannel innovation. This initiative represents a major leap forward in connecting with players in innovative ways and demonstrates our leadership in transforming the gaming landscape,” Zoe Ebling, Vice President of Interactive at AGS, said.

Rakin’ Bacon Odyssey continues BetMGM’s mission of leveraging its omnichannel advantage and connecting online and land-based casino play. In February 2023, MGM Resorts International and BetMGM debuted MGM Riches, the companies’ first custom slot experience that can be played both online via BetMGM and as a traditional slot game at MGM Resorts properties throughout the US. BetMGM and Borgata Hotel Casino and Spa launched Dual Play Roulette on BetMGM and Borgata Online Casino in New Jersey in August 2023. Dual Play Roulette, from Evolution Gaming allows players at the physical Roulette table in the casino and online players to participate in the same game.

BetMGM’s online casino is home to over 2700 titles across North American markets and one of the largest state-by-state exclusive jackpot network. In 2023, BetMGM was named Casino Operator of the Year by SBC North America, EGR North America, Global Gaming Awards, and American Gambling Awards.

Michigan commercial and tribal operators reported a combined $234.8 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in April. Gross receipts decreased 8.7% compared to last month.

Monthly Gross Receipts

April iGaming gross receipts totaled $192.9 million and gross sports betting receipts totaled $41.9 million. In March, gross sports betting receipts were $215.15 million and gross sports betting receipts were $41.93 million.

Monthly Adjusted Gross Receipts

Combined total iGaming and internet sports betting adjusted gross receipts (AGR) for April were $201.93 million, including $174.16 million from iGaming and $27.77 million from internet sports betting — representing an iGaming decrease of 10.4% and a sports betting increase of 4.1% when compared to last month. Compared to a year ago, in April 2023, iGaming AGR was up by 21.4% and sports betting was up by 13.3%.

Monthly Handle

Total April internet sports betting handle at $399.1 million was down by 16.9% from the $480.4 million handle recorded in March 2024.

Monthly State Taxes/Payments

The operators reported submitting $37.6 million in taxes and payments to the State of Michigan during April, of which:

iGaming taxes and fees = $35.8 million

Internet sports betting taxes and fees = $1.8 million

Monthly City of Detroit Taxes/Payments

The three Detroit casinos reported paying the City of Detroit $9.82 million in wagering taxes and municipal services fees during April, of which:

iGaming taxes and fees = $9.1 million

Internet sports betting taxes and fees = $724,986

Monthly Tribal Operators’ Payments

Tribal operators reported making $4.3 million in payments to governing bodies in April.