The Minister of Finance, Fernando Haddad, analyzed the impact of regulating sports betting and online casinos for Brazil in an interview with Band’s Canal Livre program. The attraction was shown on Sunday, the 17th.
The ministry led by Haddad published a provisional measure (MP) with guidelines for the online betting sector. A bill based on the MP was approved in the Chamber of Deputies last week, including online casino games.
Now, the proposal to regulate sports betting is being processed in the Federal Senate. Haddad defended the discipline of companies and bettors.
“In fact, the digital world has caused such a huge change in the population’s habits that it is difficult with the world wide web to stop someone from placing a bet. How are you going to stop someone from entering a website and placing a bet? We have to disciplinary”.
“If the state turns its back on this world and pretends it doesn’t exist, it will do harm to the population. The right thing to do is to recognize the existence of this issue and discipline the sector to prevent people from becoming addicted, to inhibit the betting of those who are already betting a lot. This is all monitored abroad. You monitor people and often, people are treated”, added the minister.
Revenue from the regulation of sports betting should exceed government projections
Furthermore, Haddad pointed out that it is necessary to face ‘reality’, ‘discipline’ and ‘raise some resources’ to combat ‘side effects’.
“You can create a regulatory system to support citizens, who may not just be having fun and may have fallen into a trap.”
“Then there is the case of fraud, who is going to monitor and regulate this? Pretending that it doesn’t exist is aggravating the problem. We are going to face a reality that is impossible to stop, we are going to discipline and raise some resources to even combat the side effects of this”, he added. .
The Finance Minister also highlighted that revenue should exceed the Federal Government’s projections. “Next year will be more than I imagined. We imagined R$2 to R$6 billion, I thought it was a bit exaggerated.”
“The PL that we sent doesn’t even include one billion reais because the Federal Revenue is very conservative when it comes to forecasting revenue in the budget, as someone has to sign it, I think we put R$700 million and we respect the Revenue’s autonomy. But, it will give a lot more than expected”, concluded Haddad.
Check out the complete Canal Livre program with Fernando Haddad: