Brazil: CPI of Bets to Meet Central Bank President Tuesday at 11 AM

Brazil – April 4, 2025 – www.zonadeazar.com The oversight of financial transactions in betting houses is one of the topics of the testimony of the President of the Central Bank (BC), Gabriel Galípolo, who will be heard by the CPI of Bets in a meeting scheduled for Tuesday (8) at 11:00 AM.

The invitation to Galípolo follows a request (REQ 396) from the president of the CPI, Senator Dr. Hiran (PP-RR). In his justification, he highlights the role of the Central Bank in regulating the financial system. Dr. Hiran expects the institution to provide relevant information regarding the ability to track irregular transactions, the possibility of implementing specific rules for fund transfers involving the online gaming sector, and the assessment of the economic impact of betting on the financial system.

“The testimony of the President of the Central Bank of Brazil is essential for this CPI to obtain crucial information for achieving its objective, contributing to the preparation of a conclusive report that reflects the reality of the facts,” stated the committee president.

The CPI of Bets was established on November 12, 2024, to investigate the influence of online betting on Brazilian household budgets and its possible association with criminal organizations. Senator Soraya Thronicke (Podemos-MS) is the rapporteur.

The games created by the sector and pending regulation are known as “fixed-odds betting,” referring to online sports betting (the so-called “bets”) and online games resembling casino games (such as Fortune Tiger, popularly known as “Jogo do Tigrinho”). “Fixed odds” allow the bettor to know in advance how many times their wagered amount will be multiplied in case of a win.

The outcome of a CPI may include, among other things, proposals for legislative changes and the referral of investigations to the responsible bodies for the criminal accountability of the accused.

Source: Agência Senado

Edited by: @_fonta
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