IBJR Statement Against Criticism from the Banking Sector

IBJR Statement Against Criticism from the Banking Sector

The Brazilian Institute for Responsible Gaming (IBJR), which brings together the leading betting companies in Brazil and worldwide, expresses its strongest repudiation of the banking sector’s criticism of sports betting companies, citing concerns about public indebtedness. This is an unsustainable contradiction and a deeply hypocritical act from a historical catalyst of over-indebtedness in the country.

Data from the Consumer Debt and Default Survey (PEIC), conducted by the National Confederation of Commerce, show that nearly 80% of Brazilian families are in debt, and the main source of this indebtedness is not betting, but rather credit cards, a payment system that is not accepted by regulated betting operators in Brazil. Credit cards are aggressively promoted products, with interest rates reaching an alarming 451.5% per year in August.

During discussions on the Provisional Measure (MP) that serves as an alternative to the IOF tax increase, banks openly admitted that their “only concern” was the impact of taxation on rural and real estate credit bills (LCA and LCI), banking products. It is clear that the sector seeks to divert attention from its own structural privileges and its undeniable responsibility in the country’s debt crisis.

Since the regulation of the sports betting market, we have consistently defended a properly supervised environment with clear rules and operators committed to legal compliance, ensuring a transparent, responsible ecosystem free from illicit ties.

IBJR reaffirms its commitment to constructive dialogue toward the development of a regulated, safe, and responsible market that contributes to economic growth and the protection of Brazilian consumers.