Brazil Readies Debt Plan That Targets Online Betting

Overview

• The federal government says it will soon unveil a package to curb household debt that includes measures aimed at online betting platforms.
• Speaking in Barcelona, President Luiz Inácio Lula da Silva said digital betting and large platforms drive overspending and need tighter regulation.
• Institutional Relations Minister José Guimarães called bets one of the country’s worst ills and said action will hinge on support in Congress.
• Central bank data show betting firms took in about R$21 billion a month and that roughly 24 million Brazilians sent them money, including around 5 million from Bolsa Família households.
• A national survey by Unifesp estimated 11 million people at risky levels of gambling and 1.4 million with disorder scores, fueling calls in politics and the press for tougher limits.