The IBJR, which brings together the leading betting companies in Brazil and around the world, strongly condemns the banking sector’s claims that sports betting companies are responsible for rising debt among Brazilians. According to the Institute, such statements are unsustainable contradictions and deeply hypocritical, coming from a sector that has historically been one of the main drivers of over-indebtedness in the country.
Data from the Consumer Debt and Default Survey (PEIC), conducted by the National Confederation of Commerce, shows that nearly 80% of Brazilian households are in debt, and the primary cause is credit card debt — not betting — a payment method prohibited on regulated betting sites in Brazil.
The Institute notes that credit cards are heavily promoted financial products with interest rates reaching an alarming 451.5% per year in August.
During the discussion of the Provisional Measure (MP) that sought to raise taxes as an alternative to the IOF, the banks admitted that their “only concern” was the potential impact on the taxation of real estate and rural credit notes (LCI and LCA) — both banking products. This clearly shows an attempt by the financial sector to divert attention from its own structural privileges and responsibility in the country’s debt crisis.
Since the regulation of the sports betting market, the IBJR has consistently advocated for a well-supervised environment with clear rules and legally compliant operators, ensuring a transparent and responsible ecosystem free from illicit practices.
The Institute reaffirms its commitment to constructive dialogue aimed at developing a regulated, safe, and responsible market that supports economic growth and consumer protection in Brazil.
Brazilian Institute for Responsible Gaming (IBJR)
