Betting is rapidly expanding in Brazil, leading to the emergence of new brands in the market, resulting in significant effects on the economy and societal behavior.
Text: Discover the reasons behind their rise in prominence and significance in the market.
Is gambling legal in Brazil?
On December 30, 2023, the Lula administration approved and made changes to Law 14,790 of 23, which governs the online sports betting industry in Brazil. The updated regulation included tax guidelines, protection measures for minors, and restrictions.
The Federal Government is already leaning towards implementing stricter control measures on gambling and addressing addiction in September 2024.
Is it possible to recover lost money in any circumstance?
If the wager took place on a legitimate application or betting website following legal guidelines, the typical response would be negative.
Sometimes, betting platforms are known to exploit the vulnerability of addicted individuals by providing misleading promotions and bonuses, or by making it difficult for them to receive their winnings.
There are instances where they hire influencers who promote false profits to encourage bettors to invest more.
In rare situations where a gambler is identified as being addicted and believes they are being targeted by manipulative advertising, providing a refund could be a potential remedy.
The opportunity arises through the analysis of the Consumer Protection Code. The legislation prohibits any business from exploiting consumers’ physical and mental well-being to make a profit by causing illness or worsening existing health issues.
This is due to the fact that one of the key principles of the Consumer Protection Code is safeguarding the physical and mental well-being of consumers, and any company offering services to Brazilian consumers is prohibited from causing, exacerbating, or exploiting a health condition for financial gain.
View a few fundamental consumer rights outlined in Article 6 of the Consumer Protection Code.
Summary
Given these concerns, it can be inferred that all advertising should adhere to legal regulations, regardless of whether it is only shared online or through social media platforms.
It is important to note that, since online betting is relatively new in Brazil and regulations are still being established, there have been no prior cases of judges ruling on the reimbursement of money for online bets. Nevertheless, consumer protection laws are in place to prevent unfair practices and exploitation.
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