Legalized online gambling in Brazil is leaving more people in debt

Legalized online gambling in Brazil is leaving more people in debt(bloomberg.com)

18 points by 8en 1 year ago | 7 comments

Gambling has been a huge disaster for the country as a whole. If it were up to me, I would have already banned all gambling platforms in the country. But to make matters worse, the government is studying a state-owned gambling platform.

tmottabr 1 year ago | |

I expect a change in this in the coming months..

evangelical churches are starting to get concerned about this and we are starting to see the evangelical base in congress react against.. [1][2]

When people that has lost all their money on gambling stop paying the tithe, that many evangelical churches demand, the movement against it between churches leadership will gain a LOT of traction..

[1] https://www1.folha.uol.com.br/mercado/2024/11/bets-chegam-as... [2] https://noticias.gospelmais.com.br/bets-de-jogos-de-azar-ban...

meiraleal 1 year ago | | |

This money is better spent with bets

matheusmoreira 1 year ago | |

Yup. They couldn't care less about gambling addiction. They're just mad they're not getting a cut.

mbfg 1 year ago |

Isn't this true of basically any country?

tmottabr 1 year ago | |

Yes.. But for some reason situation is worst in Brazil compared to anywhere else..

It was forbidden in Brazil.. They changed the law to allow and the country jumped to #1 in sports gambling in less then 1 year..

other types of gambling are likely following the same trend..

gambling sites made 20bi profit last year... that is equivalent to 1% of the country GDP..

Retail already noticed a slowdown because people are stopping spending money to gamble or are already heavily in debt..