Zona de Azar Brazil – Brazil: O Globo, Folha de S.Paulo, and Estadão Criticize the Negative Impact of Betting

Brazil.- August 27, 2024 www.zonadeazar.com The entire sports betting and online gaming sector has been following an intense negative campaign in the media, involving politicians, social and religious leaders, as well as banks and retail entities. The rapid growth of the sector, following the legalization of betting in 2018, seems to have disturbed many sectors.

Recently, several criticisms and negative reports have emerged. From the perspective of Magno José, head of BNL Data, articles and editorials have been featured in media outlets like O Globo, Folha de S.Paulo, and Estadão, criticizing the impact of betting on the daily lives of Brazilians. These statements show that online betting is causing unrest in society.

The Instituto Conhecimento Liberta, led by Eduardo Moreira and Felipe Neto, launched the campaign #ApostasMatam, reinforcing the idea that the betting market is a serious problem in Brazil.

Other entities, such as the Associação Brasileira dos Atacarejos, have also positioned themselves against betting, warning about the dangers of this market for their employees.

The lack of regulation over the past five years is cited as one of the causes of the problems facing the sector. Law 13.756/18, which legalized fixed-odds betting, stipulated that the government would regulate the sector within four years, which did not happen. As a result, the betting market grew uncontrollably, moving billions of reais without proper oversight.

Starting January 1, 2025, new regulations will come into force to reduce and address the issues caused by the lack of control in this modality. The measure is expected to hold operators accountable for misleading advertising, prohibit the operation of unauthorized companies, and establish rules to protect the mental and financial health of bettors.

Another concern raised by critics is money laundering. However, experts say that with new technologies and the mandatory identification of bettors, this practice becomes risky and costly.

It is essential for the gaming and betting sector to mobilize to respond to these criticisms and prevent the image of online betting from deteriorating further, especially with the arrival of regulation in 2025.

Source: Edited by @_fonta www.zonadeazar.com