ARTICLE – FECOMERCIOSP
The impact of online “betting” on retail
Online betting is being promoted as a quick way to make money, and even as an investment, attracting many Brazilians. According to FecomercioSP, one-third of São Paulo residents who engage in betting view it as an immediate means of increasing income. However, this perception overlooks the fact that most bettors lose more than they win, leading to negative effects on household budgets.
The easy access through smartphones and the overwhelming presence of advertisements increases the risk of addiction, allowing people to bet anytime, anywhere. This creates dangerous habits, diverting funds that could otherwise be spent on retail, such as food, clothing, and other forms of entertainment and leisure. Advertisements promising quick profits obscure the risks and encourage impulsive behavior.
It is urgent to adopt measures to reduce the risks of addiction and over-indebtedness. Furthermore, it is essential to control the use of government assistance resources, which could be diverted to betting, worsening debt and causing social and economic consequences. The government is already studying mechanisms to track individual taxpayer numbers (CPF) in online betting to establish certain limitations.
Finally, restricting betting advertisements and implementing fair taxation on both the winnings of bettors and the companies in the sector would generate revenue that could be directed to priority areas and addiction prevention programs, mitigating the socioeconomic impacts of these games.
Source: Eletrolar News #163
