‘A Casino in every Kitchen’: Brazil’s Online Gambling Craze
FERNANDA, a cleaner from Rio de Janeiro, lists off the items she bought to feed her online playing addiction, “https://www.technology.org/2024/05/21/online-casino-ratings-how-are-they-compiled/} one in all tens of millions of Brazilians caught in a betting craze that has swept the nation.
“I misplaced every part,” said the 34-year-old, whose name has been changed to protect her identity. “I offered my Tv, my washing machine, every part in my dwelling.”
Six years after Brazil legalised on-line sports activities betting, Latin America’s largest economic system is battling what Finance Minister Fernando Haddad has called a “pandemic,” prompting the government to tighten the screws on the sector.
Brazil’s central bank estimates that 24 million out of Brazil’s 212 million inhabitants, roughly one in 9 individuals, guess online on sporting occasions or on games like Aviator, Fernanda’s favorite, the place players gamble on the flight of a digital airplane.
Online gambling “is going to empty Brazilians’ fridges,” warned Joao Pedro Nascimento, president of Brazil’s securities regulator (CVM).
Sports betting websites now sponsor most of Brazil’s major football clubs and flood Tv channels and social networks with advertisements featuring stars like Real Madrid striker Vinicius Junior.
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But in latest months they have come underneath rising scrutiny, with specialists warning of the chance to users’ psychological well being and finances, and experiences emerging of money laundering by playing sites.
Poor families hooked
In a recent bombshell report the central financial institution revealed that 5 million beneficiaries of the state’s Bolsa Familia allowance for poor families – one in 4 of all recipients – had spent a complete of three billion reais (S$705.6 million) on betting websites in August.
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“Many poor individuals run into debt while trying to earn money with betting. We must regulate (the sector). Otherwise we’ll soon have a on line casino in every kitchen,” President Luiz Inacio Lula da Silva said in late September.
