This Thursday (17), President Lula said he could end it sports betting nBrazil if betting regulation does not happen as expected.
“We’ll see if the regulations can handle it.” If regulation takes care of this, the problem will be solved. If I can’t handle it, I’m done. Be very clean. You have no control over the humblest of people, kids with cell phones in their hands making bets. We don’t want that,” President Luiz Inacio Lula da Silva said during an interview with Radio Metrópole in Salvador (BA).
The sports betting sector is experiencing accelerated growth in Brazil, and in the first eight months of the year, Brazilians spent approximately R$20 billion per month on betting. The survey was conducted by the Central Bank.
Concerned about excessive spending, the government has reduced the use of credit cards and Bolsa Família cards for sports betting registrations.
To date, more than 2,000 sites have not been registered with the Ministry of Finance, much less regularized, according to Anatel (National Telecommunications Agency). Brazilian law established a 15% rate on the net profits of bettors and a 12% tax on the income of betting companies.
