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Brazil is seeking to address a long-standing social issue. The proposed bill aims to raise the legal gambling age and impose monthly bets.
Brazil is considering changes to its gambling regulations. The proposed bill would raise the legal betting age to 21. It also aims to introduce a monthly wagering cap, limiting players to the equivalent of one minimum wage. But what would this mean to the industry?
In addition to raising the legal gambling age in Brazil, Costa’s bill would establish a monthly betting cap for each player. That would be the equivalent of one minimum wage, which is BRL 1,518 (approximately $276). The restriction would apply uniformly across all licensed operators.
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In a very controversial statement, Costa said this bill was not only “a piece of legislation,” but “it’s a wake-up call against a true social epidemic, which affects, above all, our young people, the most vulnerable, those who should be focused on studying, working and building their dreams, and not trapped in screens that promise easy fortune, but deliver ruin, debt and despair.”
The bill is currently awaiting dispatch. If approved, it would need to be implemented within 90 days of publication. The proposal underscores mounting pressure on Brazil’s licensed gambling sector, which was only officially regulated on Jan. 1.
“Betting has become one of the biggest tools of emotional and financial manipulation of our time.”
Earlier this year, thegovernment temporarily raised the tax rate on licensed operatorsfrom 12% to 18%. Congress is set to vote on Oct. 9 to determine whether the increase will become permanent. Brazilian Finance Minister Fernando Haddad recently stated that he would vote in favor of a gambling ban if the bill reaches the Chamber of Deputies.
The industry has expressed concern that such statements could lead to “overregulation” and have “adverse consequences, including driving players to theblack market and undermining the viability of regulated operations.”
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