Senate approves CPI of Brazil Bets financial vulnerabilities

The Senate of Brazil has authorised a Commission of Inquiry (CPI) to investigate the financial impacts of the upcoming Bets regime, which will regulate fixed-odds betting and online gambling in the country.

Senator Soraya Thronicke, representing Mato Grosso do Sul, initiated the request for the inquiry and gained the support of 30 senators to launch the “CPI of Bets.”

According to SBCNoticias, Thronicke called for the CPI to assess how gambling affects the finances of Brazilian families.

This request follows alarming findings from the Central Bank, revealing that recipients of Bolsa Família, Brazil’s financial aid program for low-income families, spent BRL 3 billion (€500 million) on gambling, as tracked by the PIX payment system.

Concerns about the financial risks of the Bets framework have prompted the government to carefully oversee the launch of federal fixed-odds betting and online gambling.

In a meeting with senior ministers, President Inácio Lula da Silva warned that he wou..

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