The "jogo do bicho" may be facing its final days. According to a report published this Sunday (12) by the American newspaper New York Times, the arrival of sports betting and online games in Brazil is putting the survival of the lottery, which despite being illegal, is traditional in the country, at risk. "The 'jogo do bicho' seems to be going through an existential crisis," says the report.
According to the newspaper, the unlimited number of draws and the larger prizes paid by the bets (or fixed quota bets, in which the player knows how much they will win if they guess correctly) have made fewer Brazilians willing to spend on the 'bicho'.
The average age of the 'jogo do bicho' bettors is another obstacle. The report states that most players of the illegal lottery appear to be over 50 years old.
According to the American newspaper, Bets move almost R$ 140 billion in bets per year in the country. According to the report, the Brazilian government estimates that almost a quarter of the population has made bets on the internet in the last five years and that the average monthly expenditure on this type of expense exceeds R$ 20 billion.
The rise of bets has started a debate on how to regulate the activity in Brazil. The report highlights the variety of games available, ranging from digital casinos to football-related bets. A September report from the Central Bank showed that R$ 3 billion paid by the Bolsa Família were spent on bets.
The Supreme Federal Court (STF) is expected to discuss whether the operation of bets in the country is legal or not by April. Authorized to operate in 2018 by Michel Temer, the bets were not regulated during the Bolsonaro government (2019-2022), as was expected. Because of this, Brazil does not have clear rules established for the activity.
Source: GMB
