Zona de Azar Brasil – Brazil: What You Don’t Know, But Need to Know, About Bets Brazil
September 18, 2024 www.zonadeazar.com The federal decision to create clear and transparent rules for an industry that is already a reality was responsible and correct. Not regulating the gaming and betting market would mean opening the doors to illegal activities by irresponsible operators, who would aim only to harm Brazilian consumers.
Since the enactment of Law 14.790/2023, known as the ‘Sports Betting Law,’ as expected, society and major sectors driving the country’s economy have shown concern about the practical effects of this law.
Some fear that the increase in people’s betting habits, even though it generates jobs in Brazil and revenue, could impact other sectors of the economy. In another sphere, there are concerns about family indebtedness, gambling addiction, excessive and malicious advertising, and mental health issues.
In all these situations, there is something fundamental and priority: to differentiate between serious companies committed to addressing these issues and contributing to the country’s economy, and those that, from the beginning, have shown only interest in irresponsible profit without regard for Brazilian society.
The date for the unrestricted implementation of the law is January 1, 2025. With the new year, we will have a selection of serious companies operating legally in Brazil, with licenses granted by the government, dedicated to following the new rules and committed to safe entertainment, widespread dissemination of important information, and the well-being of players.
Gaming, whether online or physical, is already part of the Brazilian routine. However, it is essential to understand that the problems faced so far with uncertified games, excessive and inappropriate advertising, and significant mental health issues are the consequence of a market that has spent the last six years without any regulation. The industry is already established in Brazil and would not cease to exist if it were not regulated.
The latest regulations published by the Ministry of Finance determined the protection of vulnerable groups from abusive advertising and set a series of measures to prevent indebtedness and fraud – such as CPF verification, having a “clean name,” and making payments only via debit or PIX. The rules follow international good practice standards applied in the betting market, such as those in the United Kingdom, which remains our best reference. Measures that have been, from the beginning, advocated by serious companies that have brought new investments to clubs and Brazilian sports in general.
As president of IBJR, I emphasize that gambling is a source of entertainment and should never be seen or used as an investment or a way to make quick and easy money. This model exploited in the country by other companies so far is not responsible, legal gambling focused on enjoyment. It is extortion of family income, health, and trust in a sector investing in jobs, tax payments, and creating a structure to protect players.
IBJR is committed to working to ensure a safe environment for players, sustainable for companies, based on ethics, fair play, and responsible entertainment. For this reason, we recognize the Federal Government’s efforts to regulate the betting sector, aiming to protect players and integrate this industry into the formal economy, contributing to Brazil.
André Gelfi, President of the Brazilian Institute of Responsible Gaming (IBJR)
Edited by: @_fonta
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