Draft bill in Brazil proposes monthly betting limit

• One Senator in Brazil proposed changes to the country’s existing gambling laws to introduce a monthly betting limit
• The draft law ties the betting limit to 5% of the country’s minimum wage, or approximately RS$80, which is roughly $16
• The proposal follows the example of European countries that have successfully implemented monthly betting deposit limits

A newly proposed legislation calls for enhanced protection of bettors in Brazil by implementing a monthly deposit limit.

The default monthly limit under the proposal would apply to all bettors, and it is tied to the country’s minimum wage.

Betting spending capped at 5% of minimum wage

The bill, which seeks to eliminate indebtedness and excessive gambling, was recently proposed by Sen. Camilo Santana.

Per the proposal, a default deposit limit for all bettors would be applicable, restricting them from depositing more than R$80, or $16 per month, local media outlets reveal.

Notably, the draft bill is taking into consideration Brazil’s minimum wage and the sum of R$80 represents approximately 5% of the minimum monthly wage.

At the same time, the draft legislation plans to give gamblers the option to increase their monthly deposit limit.

In order to do so, bettors need to provide financial information, confirming their income is higher than the minimum wage and bet up to 5% of their proven monthly earnings.

If it is signed into law, the proposal would prohibit licensed betting companies from accepting more than R$80 per month from a customer with the exception being bettors who have filed and received approval for higher monthly betting limit.

It is worth noting that the limit would take into consideration all deposits made by the customer for the month with all licensed and regulated gambling operators in the country.

Brazil follows example set by European countries

The draft bill effectively implements changes to Law 14,790/2023, which regulates betting activities in Brazil.

According to Sen. Santana, the draft bill comes at a time when the market expansion has proven the need for extra means for player protection.

Equally as important, the Senator pointed to good examples of similar legislation implemented in countries across Europe, including the Netherlands and Germany, among others.

The default betting monthly deposit limit, Sen. Santana argued, would protect the bettors from indebtedness and harm.

Ensuring prolonged protection of the bettors, the bill will update the monthly wagering deposit limit as the country’s minimum wage increases.

Image credit: Pixabay.com