Central Bank reveals that Brazilians spent R$20 billion on online betting via Pix in 2024

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Central Bank reveals that Brazilians spent R$20 billion on online

Central Bank reveals that Brazilians spent R$20 billion on online betting via Pix in 2024
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The Central Bank released on Tuesday (24), a study that shows Brazilians' spending on online betting in the first eight months of 2024. Approximately 24 million people made transfers via Pix for gambling. Senator Omar Aziz (PSD-AM) plans to ask the Attorney General's Office to remove betting sites until they are regulated.

Bettors are predominantly young people aged 20 to 30, but the practice extends to various ages. In August alone, the value of transfers reached R$20.8 billion, exceeding the revenue from official lotteries by more than ten times.

The report also points out alarming data about the high number of Bolsa Família beneficiaries, who use an average of R$100 of the benefit for betting. In the month of August alone, 2 billion were recorded in payments via Pix.

The future of the sector presents significant risks, with low-income families using resources from social programs in betting. In response, the regulation of online betting, sanctioned at the end of 2023, will require platforms to operate in Brazil from 2025, facilitating supervision and control of the sector. The deadline for the legalization of websites ends on October 1st, and 113 platforms have already requested licensing. Online betting in Brazil exceeds the revenue from Caixa lotteries by more than ten times.


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Specialist, researching the internet using a tablet (Photo: reproduction/ Sean Anthony Eddy/Getty Images Embed)


Table of Contents

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BC research

A survey by the Central Bank (BC) released on Tuesday (24), reveals that between January and August 2024, Brazilians spent approximately R$20 billion on online betting. The data indicates that around 24 million individuals made at least one transfer via Pix for gambling and betting during the period analyzed. A survey, which examines the period from August 2024, also reveals the profile of bettors and the presence of beneficiaries of social programs in the sector.

The request for the study was carried out at the request of Senator Omar Aziz (PSD-AM), who plans to ask the Attorney General's Office (PGR) to take legal action by removing betting house pages on the internet, until they are regulated by the federal government.

Bettor Profile

Bettors are mostly young people between 20 and 30 years old, although the practice is expanding across different age groups. The average value of monthly transfers tends to increase with age: younger people invest around R$100 per month, while older bettors can increase R$3,000 per month, according to data from August this year.

Amount spent

The Central Bank also evaluated the monthly amount used by the population for electronic betting through Pix. The volume of monthly transfers is intended for bets ranging between R$18 billion and R$21 billion. In August, this value reached R$20.8 billion, which yielded more than ten times the R$1.9 billion collected by the official Caixa Econômica Federal lotteries.


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Father holds daughter on his lap (Photo: reproduction/Muratkoc/Getty images Embed)


Bolsa Família beneficiaries

According to the government, a portion of the resources allocated to social programs are being used in betting shops. A technical note from the Central Bank reveals that approximately 5 million beneficiaries of the Bolsa Família Program (PBF), out of a total of 20 million, placed bets via Pix, with an average expenditure of R$100 per family. Of these bettors, 70% are heads of families, who, in August, disbursed R$2 billion in remittances for bets, representing 67% of the total of R$3 billion.

The report covers betting on sporting events and gaming in virtual casinos. The volume of bets may be higher, as the data only considers transactions via Pix, excluding other payment methods, such as debit and credit cards and direct electronic transfer (TED). The data recorded refers only to the amounts sent, without taking into account prizes received.

In August, the Bolsa Família program distributed R$14.12 billion among 20.76 million beneficiaries, with the average value of the benefit in the month being R$681.09.

Alexandre Espírito Santo, economics and finance coordinator at ESPM and economist at Way Investimentos, warns that information from the BC indicates a future full of “many risks” for society, especially for families from lower income classes.

“The most recent data is alarming, revealing that families who receive Bolsa Família are using these resources for gambling. We need to establish definitive guidance, at the risk of increasing family debt, which would make the scenario extremely dangerous,” he declared .


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Man uses mobile betting site (Photo: reproduction/South_agency/Getty Images Embed)


Regulation

The National Congress, at the end of last year, approved and the government sanctioned a law that regulates online betting in Brazil. This regulation establishes a series of rules for the operation of these companies in the country and provides for the collection of taxes — something that currently does not occur. Since 2018, fixed odds bets, popularly known as bets (electronic betting companies), have been allowed in Brazil. However, most websites are not registered in the country, operating in foreign locations and making their services available over the internet to Brazilians.

With the new regulations, from January 2025, these sites must be hosted in Brazil, facilitating inspection, as stated by the government. “We will have full control over who the bettors are and what payment methods they are using. We will have clear rules to combat money laundering”said Régis Dudena, secretary of prizes and betting at the Ministry of Finance, in an interview with Fantástico at the beginning of the month. He also highlighted that there are rules to protect bettors, allowing the financial volume they spend in betting shops to be monitored, which will be supervised by the Ministry of Finance.

Regulation period

The deadline for the legalization of online betting sites will be October 1st. Recently, 113 betting platforms received their license applications to operate in Brazil in the General Betting System, from the Prize and Betting Secretariat of the Ministry of Finance.

The Federal Government's measure was adopted after the disclosure of complaints related to these platforms. From October to December, only betting companies that request authorization to operate in the fixed-odd lottery betting modality will be able to continue their operations.

Featured Photo: man uses the online betting site Bet365 on his smartphone (Reproduction/PAUL ELLIS/AFP/Getty Images Embed)

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