Five entities that group various operating companies issued a letter in which they defend themselves from criticisms suggesting that the population is getting more indebted and consuming less due to betting.
Brazil.- The National Association of Games and Lotteries (ANJL), the Association in Defense of Integrity, Rights and Duties in Gaming and Betting (ADEJA), the Brazilian Association for the Defense of Sports Integrity (Abradie), the International Gaming Association (aigaming), and the Brazilian Institute of Legal Gaming (IJL) published a open letter to the Brazilian population in which they defend their stance against various criticisms that have arisen in recent weeks.
Specifically, these entities defend themselves from accusations suggesting that the population is getting more indebted and consuming less due to betting. This is the industry's first move against irresponsible and inconsistent information about the activity.
In the publication, the entities assert that, from last year to now, the country was going through a "historic moment" with the regulation of the sector, but that economic segments have shown, due to ignorance of the practices adopted by the industry, "concerns, often hasty" about the impacts of these entertainment services.
The text does not make direct reference to any market actor, but is a response to several of them. PwC Brazil, for example, published last week an estimate that people with lower incomes dedicate 1.38 percent of their family budget to betting; this data is denied in the open letter signed by the five entities.
In mid-August, the president of the Securities Commission (CMV), João Pedro Nascimento, publicly stated that the regulation of betting is alarming and has the potential to "empty the refrigerators of Brazilians."
In the open letter, the entities reinforce "their commitment to consumer protection, transparency, and the fight against any harmful practice," dismissing these accusations.
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They also clarify that the majority of the betting consumer public would not be from lower-income social strata. The target audience would be the middle class: "The financially most vulnerable people, although present in the universe of bettors, represent a tiny portion," the message states.
