The Brazilian Federation of Banks (Febraban) is considering proposing to the government the creation of a task force to assess the impact of virtual betting on family income. The group would have the participation of representatives from the government, the productive sector and financial institutions.
“We are considering proposing to the government the creation of a multi-governmental, multi-sectoral task force to deepen the impacts of betting activity in Brazil. It is important to have an accurate diagnosis. This task force could, in addition to the Ministry of Finance, include other government bodies that take care of consumer protection, the prevention of money laundering and social benefits, such as Bolsa Família”, said the president of Febraban, Isaac Sidney, who met this Wednesday (2) with the Minister of Finance, Fernando Haddad.
Intended to discuss the impact of debt caused by electronic betting and online gambling, the meeting ended in uncertainty. According to the president of Febraban, no decision was made at the meeting, and the entity’s role is not to propose public policies.
“The meeting today was not for decision-making. Our concern is with preventive measures for over-indebtedness, with financial health and the well-being of families”, said Sidney upon leaving the meeting.
Pix
Sidney repeated recent statements in which he defends the suspension of Pix as a means of paying for bets or the imposition of limits on bettors’ transfers to bets. According to the president of Febraban, the ban would be temporary, until the definitive regulation of virtual betting comes into force in January.
“While there is no regulation that authorizes all online betting companies, there must be a brake. This brake undergoes some emergency measures. We have advocated that instant payment methods, such as Pix, can be temporarily suspended for placing bets,” he said.
Although Febraban officially states that the proposal to ban Pix transfers for bets is a personal opinion of the entity’s president, Sidney stated that the proposal was discussed at least three times between the banks.
“That [a restrição para o Pix] it already happens today. At night, for example, from 8pm to 6am. But the focus here is not a specific payment instrument, but finding ways to avoid the deterioration of families’ debt levels”, explained the president of Febraban.
Credit cards
This Wednesday, the Brazilian Association of Credit Card and Services Companies (Abecs) anticipated the credit card ban to pay virtual bets. Initially scheduled for January 1st, the measure takes effect instantly, being implemented by card brands.
Credit cards, however, only account for a small part of transfers to bets. Almost all payments are made via Pix. Estimates vary. Abecs calculates Pix’s dominance in virtual betting at 99%. Last week, the president of the Central Bank (BC), Roberto Campos Neto, estimated it at 85% to 90%.
In a recent interview with Brazil Agencythe Secretary of Prizes and Bets at the Ministry of Finance, Regis Dudena, projects Pix usage at 95% in transfers from bettors to bets.
