In Randolfe's view, regulating betting sites is not enough to protect the Brazilian population from the risks associated with gambling addiction. The senator compared the situation of betting sites to the tobacco industry, which is also regulated but is prohibited from advertising campaigns.
“Even though sports betting on platforms has been legalized, this cannot mean encouraging addiction and financial losses for Brazilian families. Just as cigarette advertising is prohibited, we also need to discourage betting,” said Randolfe.
As news outlet Poder360 showed, a study produced by Itaú estimates that bettors sent R$68.2 billion (US$ 12.25bn) to bets and other online gaming and betting sites from July 2023 to June 2024. Users were able to withdraw R$44.3 billion (US$ 7.9bn) in exchange.
The dynamic represents a loss of R$23.9 billion (US$ 4.3bn) in a similar period a year ago – the equivalent of 0.22% of the GDP (Gross Domestic Product).
Randolfe's proposal will still depend on a broad debate in Congress, as banning advertising by betting houses will have major economic impacts, especially in the world of sports.
In football, for example, the Brazilian championship itself has a betting website as its main sponsor. In the 1st division of the championship, the vast majority of clubs also display betting brands in the most prominent spaces on their jerseys.
Source: Poder360
