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Brazil unveils strategies against illegal gambling
On September 30, Brazil’s minister of finance shared the government’s strategies to combat illegal gambling.
In his recent radio interview, Brazil’s Finance Minister Fernando Haddad announced that the government will use new strategies to protect citizens from unlicensed gambling websites.
This follows a significant decision to suspend operations of any gambling sites that have not applied for a license starting October 1st.
Fernando Haddad commented on this:
“This week, we will take down websites that haven’t even requested official regulation.”
Haddad stressed that illegal betting sites will be removed for failing to comply with the National Congress’ legislation. Additionally, the government will ban certain payment methods, including credit cards.
Haddad also highlighted the psychological risks associated with gambling, noting concerns about dependency among heavy bettors and potential money laundering.
Haddad added:
“We will also monitor the evolution of [gambling]… to avoid two things: those who bet a lot and win little may be psychologically dependent on gambling; those who bet a little and win a lot are generally involved in money laundering. We must curb the public health problem and the issue of organised crime.”
Starting in 2018, Brazil started to regulate the gaming market and expects to see the culmination by 2025.
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