Udo Seckelmann, Head of Gambling & Crypto at Bichara e Motta Advogados, attended the first edition of BiS Brasília on October 21st and 22nd. In an interview with Portal Poder360, he discussed ways to combat the illegal market, the need to educate the public, and the importance of treating gambling as entertainment.
“We are starting to see some movements from the Legislative branch to alter some issues that were already in place in the regulated market, due to harmful factors that must be combated. But what is often not very well explained is this distinction that we always talk about in this type of event: differentiating the legal market from the illegal market.”
How to combat the illegal betting market
According to Seckelmann, one way to address this is to block payments linked to unlicensed betting sites. “Payment providers need to try to stop these payments and transactions from occurring, and the Brazilian regulator should also stop this type of activity.”
He added: “Our work, ever since we started raising this banner of regulation several years ago, has been to combat the illegal market. Because when we start talking about increased taxation, increased restrictions on advertising, and increased requirements for the regulated sector, you end up stifling those who are doing things right and benefiting those who are doing things wrong.”
Taxation
Udo Seckelmann also highlighted the importance of demystifying the sector, bringing accurate information to the public.
“The big issue we need to address here is public education. I think there’s a lot of misinformation about the activity. Especially regarding the fact that the activity involves a very large volume, large sums of money, and significant figures. The volume is large, but the profit margin isn’t as big as people imagine.”
“To remain profitable, which is what companies establishing themselves in Brazil are looking for, is very complicated. When taxation is doubled, it may not drive away the largest operators, but it will certainly make life much more difficult for medium and small operators, to the point that they may disappear, leave, or even go to the legal market,” he added.
Gambling should be treated as entertainment.
Finally, the executive emphasized that gambling should be seen as a form of leisure, not a way to get rich. “Gambling is entertainment. Gambling is not an investment; it’s not for getting rich. If someone tells you that you’ll get rich gambling, they’re lying,” he concluded.
