LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

October 8, 2024

Should Brazil Ban Credit Card Use in Online Gambling?

Brazil’s finance minister said in September that the government will seek to ban the use of credit cards in online gambling. // File Photo: Sincerely Media via Unsplash.com.

Q

A

Juliane Ferreira, head of regulatory law, and Danielle Franco, head of iGaming and public law, both at DRT Brazil: “The Brazilian Secretariat of Prizes and Betting has been investing in regulating the sports betting sector to protect users from harmful behaviors and the development of gambling addiction. One measure applied by the new regulation is the prohibition of using credit cards for online gambling, aimed at reducing the risks associated with gambling addiction. This restriction has the potential to prevent consumers from accumulating debt by ensuring they do not gamble with money they don’t have. The online betting sector is growing rapidly in Brazil, with a significant increase in participants in recent years. A recent report from the Central Bank of Brazil indicates…”

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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