In a move to contain excesses in sports betting, Bill 2843/23 is under analysis in the Chamber of Deputies.
The proposal is to create an annual spending limit set at 10% of the amount declared in the previous year’s Income Tax.
The objective is to restrict how much the taxpayer can invest
The initiative not only restricts the amount taxpayers can invest, but also places responsibility on financial institutions and sports betting companies.
Therefore, companies should adopt rigorous mechanisms to control and monitor the amounts spent by each individual.
Thus, those who exceed this limit will face serious consequences, including fines, credit restrictions and other legal measures.
Representative Ricardo Ayres, author of the project, highlights that the intention is to prevent over-indebtedness and lack of wealth control associated with addiction to sports betting.
“The proposal seeks to balance individual freedom to place bets with the need for protection against excessive financial risks”, says Ricardo Ayres, representative of Repúblicas-TO.
The Consumer Protection, Finance and Taxation, Constitution and Justice and Citizenship committees will analyze the project and can conclude the process conclusively.
This initiative aims not only to limit sports betting, but also to ensure that entertainment does not exceed individual financial limits.
Sports betting advertising breaks record
Bill arrives at a time when sports betting continues to grow increasingly in Brazil. A recent study conducted by Tunad revealed a significant increase in TV advertisements from bookmakers.
The highlight of the last quarter of 2023 was the state of São Paulo. Because, according to the research, growth represented 30% compared to the first three months of the same year.
An annex published by the National Advertising Self-Regulation Council (Conar) established strict rules and standards to be followed by companies in the sector.
Therefore, it is prohibited for bookmakers to promote the idea of easy winnings or getting rich through betting. The objective is to promote a more responsible and transparent environment for consumers.
