At an event with journalists, Sidney asked the government to prohibit the use of this payment method on betting sites to avoid compromising the income of account holders and increasing default rates.
Luiz Inácio Lula da Silva 's government recently prohibited the use of credit cards for fixed-odd bets, which include sports bets and online games, starting next year.
"I personally understand – and this is a personal position – that the government should use all legal means to immediately prohibit the use of credit cards to place bets. The ban is still not being observed. The card is a fundamental product and its use for betting is already affecting family consumption and increasing defaults,” Sidney pointed out.
Personal opinion
In a statement, Febraban emphasized that this is Sidney's personal opinion and that, despite being president of the entity, he does not speak on behalf of the federation or the associated banks.
In April, the Ministry of Finance defined that electronic bets can only be paid by Pix, transfer or debit. The restriction, however, will only come into effect in January, when the new regulation of bets, as betting companies are called, will come into effect.
Sidney added that he had discussed the issue with President Luiz Inácio Lula da Silva and also with the Minister of Finance, Fernando Haddad. According to him, Febraban is analyzing the impact of bets on household over-indebtedness.
The increase in sports betting, he added, may be reflected in higher interest rates on credit granting due to the increase in default.
Source: Agência Brasil
