Brazilian President Expresses Wish to Ban Online Gambling

(AsiaGameHub) –   Brazil’s President Luiz Inácio Lula da Silva adopted a populist stance again on Wednesday, stating that the online betting platforms introduced with his government’s support should be prohibited.

The eighty-year-old leader has never been fond of online gambling, though he viewed it as a means to increase state revenue with one significant condition – he could back out immediately. Lula, as his supporters fondly call him, is now fulfilling that latter possibility.

If It Were Up to Him

This statement arrives as the online gambling sector generates roughly $4 billion in annual revenue for its operators. Fortunately, Lula has limited power to dismantle the industry impulsively, with the President engaging in his characteristic reflections during an interview.

“If it were my decision, we would shut them down,” Lula said to the media outlet ICL Noticias, proceeding to lament the debts incurred by Brazilians who have been negatively affected by the activity.

“If these platforms are damaging, why not terminate them? We are debating this very seriously,” he stated, overlooking his own role in bringing these platforms into existence. However, a ban is unlikely, as the government’s initial goal is to increase the existing tax rate to 12% of platform income.

The industry has warned against excessively aggressive rules, contending that such measures would only push more activity to unregulated offshore sites, leaving Brazilians to still endure the negative consequences of gambling.

Lula’s remarks coincide with data indicating 80% of the nation’s households currently carry some debt, with the President playing to his populist image by demonizing the industry.

While further oversight is needed, expressing regret over the gambling industry’s regulation just a year later suggests inadequate prior planning. It is uncertain whether Brazil will eliminate its regulated gambling market.

Lula, however, is likely to choose the practical path of increasing taxes and strengthening public funds rather than an outright shutdown, especially given his limited authority to impose a full ban. The country is already implementing stricter consumer protection actions to shield its citizens.