The Central Bank is facing difficulties in detailing the expenses of BPC (Continuous Payment Benefit) beneficiaries on sports betting. The initiative was mentioned by Alessandro Stefanutto, president of the INSS, who proposes restricting the use of the benefit on online gaming sites. Despite the intention, there was no concrete progress in requesting data.
In an interview with the newspaper O Estado de S. Paulo, Stefanutto stated that he would ask the Central Bank to survey the impact of the BPC on betting. However, the crossing of information comes up against banking secrecy, reinforced after the “Pix crisis” and the issuance of a Provisional Measure to guarantee constitutional protection of financial transactions.
BPC and its purpose
The BPC offers a monthly minimum wage (currently R$1,518) to people with disabilities and low-income elderly people. The objective is to mitigate poverty and provide minimum living conditions. Despite this, the possibility of part of this benefit being allocated to sports betting raises concerns.
According to Stefanutto, the idea of restricting the use of the benefit in bets is under discussion. He highlighted: “People have every right to bet, including other benefits, such as retirement… Now, the BPC does not. It is paid by society… it has a specific purpose.”
Blocking Central Bank resources and technical challenges
The INSS assesses whether it is possible to implement legal and technical restrictions to block the use of the benefit in betting. Currently, those who anticipate up to R$150 in interest-free monthly aid already encounter limitations for transfers to gaming sites. Banks are able to prevent these payments.
However, a recent opinion from the Attorney General’s Office (AGU) highlighted the difficulties in tracking resources arising from social benefits. According to AGU, it is challenging to identify which amounts in the accounts come from BPC or other sources of income.
Last year, the Central Bank released a preliminary study using data from Pix. Then, the analysis indicated that 5 million Bolsa Família beneficiaries sent R$3 billion to betting companies.
The survey aimed to understand whether part of families’ income was being directed to betting, affecting consumption or investment. Thus, the information, released publicly, caused great repercussion and was questioned by the market.
The Central Bank and the Ministry of Social Assistance maintain a cooperation agreement to promote financial citizenship. Among the initiatives are studies and public policies aimed at the conscious use of resources.
But despite this, the Ministry of Treasury chose not to comment on issues involving betting and social benefits. Therefore, the discussion remains open, reflecting the challenges of balancing social protection and individual freedom in Brazil.
