"There is a classification for the economic activity of betting, and based on this identification, now with more concrete data, we ratified this value of R$20 billion, and more recently it could reach up to R$30 billion per month. So, today, during this year, from January to March, this value that we monitor for the purposes of activity is around R$20 billion to R$30 billion per month," stated Secretary Rogério Lucca.
According to Gabriel Galípolo, the monetary authority does not have the legal power to prevent the use of resources from Bolsa Família and the Continuous Benefit Payment (BPC) in ‘Bets’.
"It is up to the BC to obey the legal order it receives from the legislature. How is it possible to segregate the money once it is in the account? These are studies that are being developed by the Prize and Betting Secretariat of the Ministry of Finance. The BC will do what the legislative order determines," stated the president of the BC.
The head of the BC also stated that it will not be possible to pass on information from PIX, the institution's real-time transfer system, to identify bettors in the wagering platforms.
He recalled that transfers and payments made through PIX are protected by banking secrecy, and added that the protection of this data is "essential for the proper functioning of the economy."
"Since they are covered by banking secrecy, I am legally prevented from presenting data or elements of information processed within the scope of PIX, from paying and receiving parties," stated Gabriel Galípolo, president of the Central Bank.
According to him, the Central Bank does not have the legal authority to monitor or apply sanctions to fixed-odds bets made with companies not authorized to carry out this activity.
"There is no authority attributed to the Central Bank in the law. Without regulation, there is no authority for supervision and sanctioning on our part. Our role does not include the control or regulation of specific operations related to fixed-odds bets," he said.
Galípolo explained that the scope of the Central Bank is in the "procedures and controls of institutions authorized to operate." And that, among its attributions, are procedures to prevent money laundering, terrorism and arms trafficking.
Use of benefits to place bets
The debate over the use of Bolsa Família funds intensified when the Central Bank released a survey indicating that Brazilians spent around R$20 billion per month on online bets in the first eight months of 2024.
According to the study, around 24 million people made at least one PIX payment for ‘Bets’ in the same period. And a considerable portion are among the beneficiaries of the social program.
In November of last year, the minister of the Federal Supreme Court (STF), Luiz Fux, determined that the government create mechanisms to prevent the money from the social program, aimed at lower-income families in the country, from being "diverted" to risky activities such as virtual bets.
In December 2024, the Attorney General's Office (AGU) stated, in an appeal to the Federal Supreme Court (STF), that the government is facing difficulties in adopting measures capable of preventing the use of Bolsa Família funds to pay for online sports bets.
The president of the Federal Court of Auditors (TCU), Vital do Rego, guaranteed in March of this year that it is possible to track and prevent Bolsa Família funds from being used for fixed-odds bets.
Source: GMB
