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Brazil agencies ‘strongly concerned’ about online gambling

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Brazil agencies ‘strongly concerned’ about online gambling

Sep 16, 2024 15:52 5 min read

The rise of online gambling is fueling concerns over its toll on Brazilians’ mental health and personal finances. The impact on household budgets, especially in low-income communities, is already rippling through the broader economy, affecting Brazilian retail.

A June report by brokerage firm XP found that online gambling now accounts for 1 percent of Brazil’s gross domestic product and consumes roughly 20 percent of the discretionary spending of the country’s poorest households, who often fall prey to quick-fix schemes due to their financial vulnerability.

Experts have also raised alarms about the potential burden gambling-related mental issues could place on the public health system. Despite these warnings, the Health Ministry admits it has yet to take any concrete steps to address the problem.

Concerns around gambling are permeating other areas, becoming an issue electoral courts and law enforcement must deal with.

Gambling in elections is becoming a thing in Brazil. While not expressly prohibited by Brazilian law, the Finance Ministry says bets not provided for in the legislation cannot be understood as legalized. Rules set to kick in on January 1, 2025, only mention “real-life sporting events” or “virtual online gaming events.”

The Electoral Superior Court may be called upon to rule on the matter due to concerns that political bets may change the motivations behind each vote, replacing political convictions with financial calculations.

Senator Randolfe Rodrigues, the government’s chief whip in Congress,…

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