The betting sector in Brazil is legalized by Laws No. 13,756/2018 and 14,790/2023 and regulated by a series of ordinances issued by the Ministries of Finance and Sports. Bradesco's behavior, as well as that of Nubank, shows unequal treatment of a legitimate sector of the country's economy.
The regulated market has the potential to generate 60,000 new jobs over the next five years and contribute R$20 billion (US$3.5bn) in annual taxes to the country. In addition, the revenue from betting taxes is applied to sectors such as education, sports and public safety, according to percentages defined by current legislation.
ANJL also points out that section III of art. 7 of Law No. 12,865 of October 9, 2013, establishes that payment arrangements and payment institutions shall guarantee "non-discriminatory access to the services and infrastructure necessary for the operation of payment arrangements."
However, both Bradesco and Nubank disregard this principle by directing their campaigns against a single activity, when, in fact, they should be warning about the danger of betting on illegal sites.
There are thousands of illegal websites in the country that operate without the permission of the federal government. Despite the authorities' efforts to combat the illegal betting market, there is still a long way to go.
In this sense, the warnings issued by banks should inform that bets should only be made with legal companies and refer bettors to the Ministry of Finance website to check which betting companies have been issued licenses. This would be a message of support for the Ministry of Finance, which has worked so hard to regulate the sector.
Source: GMB
