Expert classifies Central Bank data as ‘scary’; survey revealed the profile of gamblers
Brazilians spent around R$20 billion per month on online gambling between January and August 2024, according to a survey conducted by the Central Bank. According to the institution, approximately 24 million individuals made at least one transfer via Pix to online gambling companies.
The BC study also drew a profile of the Brazilian gambler. Most gamblers are between 20 and 30 years old, although bets are placed by individuals of different age groups.
The average monthly transfer value increases with age: for younger people, the value is around R$100 per month, while for older people the value exceeds R$3,000 per month, according to data from August 2024.
Still in relation to the profile of bettors, it is estimated that, in August 2024, 5 million people belonging to families benefiting from Bolsa Família (PBF) sent R$3 billion to betting companies using the Pix platform, with an average of R$100 per family.
Coordinator of economics and finance at ESPM and economist at Way Investimentos, Alexandre Espirito Santo says that the data from the Central Bank point to a future of ‘many risks’ for society, especially for families in lower income classes.
“The most recent data is frightening, including showing that families who receive Bolsa Família are using the resources they receive for gambling. We have to regulate this definitively, otherwise we risk seeing an increase in the level of family debt, which makes the scenario ahead extremely dangerous,” he said.
Deadline for regulation
The deadline for legalizing online betting sites ends on October 1st. Recently, 113 “bets” filed their license requests to operate in Brazil with the General Betting System, of the Prize and Betting Secretariat of the Ministry of Finance.
The Federal Government’s decision was made after complaints involving betting platforms. Between October and December, only betting companies that have requested authorization to operate the fixed-odds lottery betting modality will be able to continue operating.
(Credit: Photo by Priscilla Du Preez 🇨🇦 on Unsplash)
