Legalized online gambling in Brazil is leaving more people in debt (opens in new tab)

(bloomberg.com)

18 points8en1y ago7 comments

7 comments

Gambling has been a huge disaster for the country as a whole. If it were up to me, I would have already banned all gambling platforms in the country. But to make matters worse, the government is studying a state-owned gambling platform.

tmottabr1y ago

I expect a change in this in the coming months..

evangelical churches are starting to get concerned about this and we are starting to see the evangelical base in congress react against.. [1][2]

When people that has lost all their money on gambling stop paying the tithe, that many evangelical churches demand, the movement against it between churches leadership will gain a LOT of traction..

[1] https://www1.folha.uol.com.br/mercado/2024/11/bets-chegam-as... [2] https://noticias.gospelmais.com.br/bets-de-jogos-de-azar-ban...

meiraleal1y ago

This money is better spent with bets

1 more reply

matheusmoreira1y ago

Yup. They couldn't care less about gambling addiction. They're just mad they're not getting a cut.

mbfg1y ago

Isn't this true of basically any country?

tmottabr1y ago

Yes.. But for some reason situation is worst in Brazil compared to anywhere else..

It was forbidden in Brazil.. They changed the law to allow and the country jumped to #1 in sports gambling in less then 1 year..

other types of gambling are likely following the same trend..

gambling sites made 20bi profit last year... that is equivalent to 1% of the country GDP..

Retail already noticed a slowdown because people are stopping spending money to gamble or are already heavily in debt..

j / k navigate · click thread line to collapse

7 comments

diegoholiveira1y ago

tmottabr1y ago

I expect a change in this in the coming months..

evangelical churches are starting to get concerned about this and we are starting to see the evangelical base in congress react against.. [1][2]

When people that has lost all their money on gambling stop paying the tithe, that many evangelical churches demand, the movement against it between churches leadership will gain a LOT of traction..

[1] https://www1.folha.uol.com.br/mercado/2024/11/bets-chegam-as... [2] https://noticias.gospelmais.com.br/bets-de-jogos-de-azar-ban...

meiraleal1y ago

This money is better spent with bets

1 more reply

matheusmoreira1y ago

Yup. They couldn't care less about gambling addiction. They're just mad they're not getting a cut.

mbfg1y ago

Isn't this true of basically any country?

tmottabr1y ago

Yes.. But for some reason situation is worst in Brazil compared to anywhere else..

It was forbidden in Brazil.. They changed the law to allow and the country jumped to #1 in sports gambling in less then 1 year..

other types of gambling are likely following the same trend..

gambling sites made 20bi profit last year... that is equivalent to 1% of the country GDP..

Retail already noticed a slowdown because people are stopping spending money to gamble or are already heavily in debt..

j / k navigate · click thread line to collapse