Gambling in Brazil: operators agree to bring foward credit card ban
The ANJL and the Brazilian Institute of Responsible Gaming have advised members to introduce a ban head of the launch of the regulated market.
Brazil.- Two industry groups have advised their members to bring forward the mandatory ban on credit card gambling scheduled to come into effect when regulated online gambling begins on January 1. The National Association of Games and Lotteries (ANJL) and the Brazilian Institute of Responsible Gaming (IBJR) have both told members to introduce the ban ahead of time.
The IBJR, which estimates that its members represent around 70 per cent of the betting market in Brazil, says all of its members have agreed. Meanwhile, the ANJL says most members have removed the option to pay with credit cards. Both groups say that credit card deposits represented only a tiny fraction of all gambling deposits: 3 per cent of total bets among ANJL members and 0.5 per cent of deposits among IBJR members.
A federal ban on gambling using credit cards, cryptocurrency, cash, cheques and payment slips will come into force on January 1 2025 as part of the Ordinance No. 615 when regulated gambling launches. However, the president of Febraban, the Brazilian banking federation, had called for the ban to be brought forward. Isaac Sidney said the measure should come into effect before the launch of the regulated market in January.
“We are very concerned about how much this could compromise family income and increase defaults, even increasing the cost of credit,” he was quoted as saying by Folha.
While regulated online gambling in Brazil begins on January 1, operators active on the grey markets have been allowed to continue to operate as long as they have applied for a licence. The Ministry of Finance gave operators a deadline of October 1, after which any gambling business that has not applied for a Brazilian online gambling licence will see its operations suspended.
