Zona de Azar Brazil – Brazil: Senators Demand Measures Against Online Betting Debt

Brazil – October 3, 2024 www.zonadeazar.com A list released by the Ministry of Finance shows that only 89 online betting companies have applied for authorization to operate in the country. According to Finance Minister Fernando Haddad, 600 websites will be banned starting October 10 for operating illegally.

While he considers the restriction on payment methods and advertising announced by Haddad to be correct, opposition leader Senator Marcos Rogério (PL-RO) continues to urge the government to implement other effective measures to curb the growth of betting.

Meanwhile, Senator Humberto Costa (PT-PE) is calling for immediate actions from the Executive Branch, highlighting the issues of debt, default, and reduced consumer spending in commerce as consequences of online betting.

Authorized by the government of Michel Temer through Provisional Measure (MP) 846/2018, later converted into Law 13.756 in 2018, online sports betting remained unregulated until last year. It was only regulated under Law 14.790 in December 2023, which addresses fixed-odds betting, where the user knows the return rate at the time of betting.

Despite the fact that, with regulation, companies and virtual betting winners are now subject to taxes — which sparked controversy in Congress — studies show that the growth of betting, fueled by online advertising and sports events, has drained family resources, caused debt, and negatively affected the country’s economy. This led the federal government to announce last week that it is preparing to tighten the rules related to betting.

Source: Agência Senado
Edited by: @_fonta
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