The Brazilian Institute of Responsible Gaming (IBJR) stated, in a note sent to Political Broadcast (Grupo Estado’s real-time news system), that regulating the betting market is the most effective way to protect society. The demonstration responds to statements by the President of the Republic, Luiz Inácio Lula da Silva (PT), made in an interview with the channel ICL News on Wednesday the 8th.
During the interview, Lula questioned the continuity of betting in the country and suggested the possibility of its extinction, due to family debt.
He also mentioned the work of parliamentarians and parties linked to the sector. “If betting causes harm, why don’t we put an end to them?” he asked. “It is not possible to continue with this unbridled gambling in this country.”
“The closure of the legal market would not extinguish society’s demand, but it would push everyone into informality, eliminating protection mechanisms and the significant revenue allocated to essential public services,” stated the institute.
According to the IBJR, the illegal market represents around 51% of bets in the country, moves R$40 billion per year outside the law and generates an estimated loss of R$10.8 billion to public coffers, based on data from Instituto Locomotiva and LCA Consultoria.
The entity also maintained that spending on betting corresponds to between 0.2% and 0.5% of household consumption, while the main factor in over-indebtedness is credit cards, according to the Consumer Debt and Default Survey (PEIC).
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