The call is led by Isaac Sidney, President of Febraban, who expressed concerns to the federal government about the growing use of credit cards for betting, warning of the risks of debts being accrued by citizens.
Currently, the government and related agencies are in the licensing phase to launch Brazil’s federal fixed-odds sports betting and online gambling marketplace, commonly referred to as Bets.
Planned to take effect from 1 January 2025, the launch of the Bets market will prohibit credit card transactions for online gambling. The Ministry of Finance announced in April that the new rule also prohibits payments made in cash, bank slips, cheques, cryptocurrencies, or any methods that hide the source of funds.
“We are very concerned about how much this could compromise family income and increase defaults, potentially raising the co..
