André Gelfi is the president of the Brazilian Institute of Responsible Gaming or IBJR. In an article for Monitor Mercantil, he praised the new regulations. He highlighted the clear and transparent rules created for sports betting and online gaming. Gelfi emphasizes the need to distinguish serious ‘Bets’—as operators are called in Brazil—from those seeking only irresponsible profit. He asserts that the industry has already established itself in the country and will continue to thrive even without regulation.
The federal decision will create clear and transparent rules for an industry that is already a reality. This was responsible and correct. Not regulating the gaming and betting market could open the door to illicit activities. Irresponsible operators might target and harm Brazilian consumers as a result.
Since the enactment of the Sports Betting Law (Law 14.790/2023), it’s no surprise that society and major sectors driving the country’s economy have expressed concern about the practical effects of this legislation.
Even though it generates jobs and revenue in Brazil, some people are concerned. They fear that increased gambling habits might impact other sectors of the economy. There is concern about family debt, gabling addiction, excessive and malicious advertising, and mental health problems in another area.
There is something fundamental and a priority in all these situations. It includes differentiating between serious companies and others. Serious companies commit to addressing these issues and contribute to the country’s economy. The others have only shown interest in irresponsible profit and lack commitment to Brazilian society from the beginning.
The government has scheduled the law’s full implementation for January 1 next year. There will be a selection of serious companies operating legally in Brazil with the new year. The government will issue licenses to operators who follow the new rules. These operators will commit to providing safe entertainment, spreading important information, and ensuring the well-being of players.
