"Our primary challenge at this stage is precisely the formalization of our betting market. There is economic activity happening in this sector that is unmonitored and untaxed, which makes it much harder to develop a sustainable market," stated Andre Gelfi to Poder360.
The regulated online betting market in Brazil came into effect on January 1st. "Despite seeing informality at absolutely unsustainable levels, we believe that the regulatory framework is modern and enables a competitive market," Gelfi added.
The IBJR director states that the betting industry generates R$25 billion (US$4.35bn) per year. "At the institute, we work with pre-regulation figures," he said.
Oversight
The federal government has been blocking illegal betting websites in an attempt to curb irregularities. By February 2025, it had shut down 11,555 domains. "It’s not enough on its own, but it is a measure that does have value," Gelfi stated.
According to him, restricting advertising to licensed companies is a good measure to hinder the promotion of illegal betting platforms. He also emphasized the need to intensify financial transaction monitoring.
"The heart of our industry is Pix. If financial institutions have effective monitoring of who is making Pix transactions and through which corporate tax ID (CNPJ), we can squeeze out this informality," he explained.
Other interview highlights
Casinos in Brazil – "IBJR is absolutely in favor of regulation and a legal framework that sustainably integrates an economic activity into Brazilian society […]. Prohibition rarely works."
Jogo do Bicho (Illegal Lottery) – "The institute does not have an official stance on Jogo do Bicho. However, I, personally, believe that if an activity has societal interest and can be structured in a way that serves the collective good, it should be regulated. If it is an activity that solely brings harm, then we should assess it more carefully. It does not seem to me that Jogo do Bicho fits that category. I am in favor of its regulation."
Sponsorships for football clubs – "We have the impression that the values in Brazil are above reasonable levels, but when will this adjustment happen? I’d say in the medium term […]. I believe this balance will be reached, and we will likely see a downward correction in these values."
Source: Poder360
