Brazilian Supreme Court convenes public hearing to discuss ‘Bets Law’
Friday 27 de September 2024 / 12:00
⏱ 1 min read
(Brasilia).- On November 11, Justice Luiz Fux of the Federal Supreme Court (STF) has called a public hearing to gather experts, entities, and government bodies to discuss the regulation of online sports betting, known as ‘bets’.
This event is taking place as a result of Direct Action for Unconstitutionality (ADI) 7721, proposed by the National Confederation of Trade in Goods, Services and Tourism (CNC), which questions the constitutionality of Law 14.790/2023, which regulates fixed odds betting in Brazil.
The CNC argues that the growing popularisation of online betting has had a negative impact on the economy and public health. Since the law was passed, the organisation has observed an increase in the indebtedness of Brazilian families, especially among the most vulnerable social classes, due to high-risk financial behaviour.
In addition, CNC says that the legislation has harmful consequences for the retail trade and the domestic economy, as a significant part of household income is being directed towards online gambling, jeopardising the consumption of essential goods and services.
The organisation also points out that economic development in various regions of the country has been affected, since resources that could boost local growth are being consumed by betting.
By João Paulo Medeiros
Categoría:Legislation
Tags: Sin tags
País: Brazil
Región: South America
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