The response from the ANJL comes after Aquiles Mosca, CEO of the financial institution BNP Paribas in Brazil and director of Anbima, published an article in the Brazilian newspaper Valor Econômico last week, titled “Bets: The bookmaker who lives in your pocket will make you unhappy”.
In the article, Mosca slammed the regulated online betting sector in Brazil, which launched on 1 January, detailing the potential consequences of addiction such as marital problems, bankruptcy and suicide.
The ANJL, alongside the Brazilian Gaming Association (Abrajogo), the National Gaming Association (AIGaming) and the Brazilian Institute of Legal Gaming (IJL), defended the licensed betting sector in a note of repudiation issued on Friday (4 April).
“By comparing the regulated betting segment to a ‘pocket bookmaker’, Aquiles Mosca makes not only a disrespectful statement, but also a profoundly mistaken and misinformed one,” the note read.
“His words disregard the institutional, regulatory and economic advances promoted by the legal framework that governs betting in Brazil.”
ANJL presents clarifications on betting in Brazil
The four gambling bodies issued clarifications to a number of points in Mosca’s article, which described gamblers as unhappy and said betting definitively leads to “greater personal financial precariousness”.
The note said since the turn of the year, the regulated betting market has contributed over BRL4 billion (£534.1 million/€625.5 million/$685.7 million) in revenue for the federal government through concessions and taxes.
ANJL also noted that the betting market creates thousands of jobs, while also promoting innovation, technology and economic development in Brazil.
It reaffirmed the sector’s commitment to following the law, with licensed companies operating under strict regulations that seek to maintain compliance with legal and tax obligations under the supervision of public bodies.
Finally, the bodies criticised Mosca’s link between the regulated sector and criminal activity, saying: “Trying to equate a formal, regulated sector with clear tax and social contributions to illegal practices is an unfair and unfounded attempt to delegitimise a legal activity, which is currently an integral part of the national economy.”
The note called upon the authorities to take a stand against comments such as Mosca’s, which disrespect a regulated sector while also undermining the Brazilian senate’s work to modernise the structure of the market.
“The signatory entities reaffirm their commitment to legality, transparency and the construction of a solid and responsible regulatory environment,” the note added.
