Betting law ignores technology and encourages clandestinity

[Maus0728]

Not just encourage but will definitely happen, think of it like this, the more you tighten your grip on something that you want to control then the more that they want to resist which in this context would pave way for off shore betting so as to prevent surveillance or the regulation from reaching those people. This will also make the illegal elements much more creative on how they're going to use that regulation in their favor if evasion of the regulation isn't possible. As always, just another problem regulation that's made without any knowledge from the people that would care about it the most.

[Oshosondy]

Not just encourage but will definitely happen, think of it like this, the more you tighten your grip on something that you want to control then the more that they want to resist which in this context would pave way for off shore betting so as to prevent surveillance or the regulation from reaching those people. This will also make the illegal elements much more creative on how they're going to use that regulation in their favor if evasion of the regulation isn't possible. As always, just another problem regulation that's made without any knowledge from the people that would care about it the most.

I do not see this as an issue for as as long as they are making the Brazilians to use foreign gambling sites. But regulators can do something like illiterates at times and this is another example of it. If a gambling site follow the KYC law and other laws like that, why not allow cryptocurrencies for deposit and withdrawal. The OP is just right about this. Their citizens that gamble with cryptocurrencies will prefer to gamble using foreign gambling sites.

[iv4n]

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

Such laws encourage people to turn to alternatives, but luckily crypto is for all... so probably many people in Brazil will turn to crypto gambling, I guess it's good news for all crypto casinos. Actions like this actually make the crypto world grow even faster, people wish things to be simple and open for them, and people wish some privacy and freedom to decide how to spend money and where.

I think we've always known that some countries will be open to crypto while others will pretend that crypto doesn't exist at all.

[m2017]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

I'm not at all surprised by this news. Any government wants to receive taxes and the gambling industry is no exception, therefore, a logical step is to ban all alternative payment methods that do not allow (or complicate) tracking the transactions of gamblers.

This trend will continue in other countries.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

As always happens, a gray market (or black market) arises behind the regulation. The Brazilian government, wanting to regulate this niche, only pushes gamblers to switch to alternative sites outside of their regulation. People always adapt to change.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

This is just the beginning.

Difficulties will begin when regulation begins beyond the territories of Brazil. How will gamblers play on casino sites (outside the country), which will also be regulated?

Once again the brazilian government is going against innovation and proving to be stupid.

For more details, access the full article here.

This is not stupidity, but greed. They need taxes.

[Slow death]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

Once again the brazilian government is going against innovation and proving to be stupid.

For more details, access the full article here.

I am not a citizen of Brazil, but I am from a country that also has an official language in Portuguese and every day I follow Brazilian politics, football and news. From what I understand, the ministry supervised by Haddad is clearly telling people that they cannot use casinos abroad, when people use casinos abroad they will not be able to withdraw their money to Brazil and if by chance someone from Brazil creates an account in a casino from abroad, and you want to deposit money in that casino from abroad, you will need to go and buy bitcoin on a website authorized by the Brazilian government, then if that person takes those bitcoins that they bought and places them in the casino that does not have a license issued by the government of Brazil, and If this person won money in this casino abroad and were to withdraw using the website authorized by the Brazilian government, this person would already be committing the crime of tax avoidance as it is called in Brazil.

[Eternad]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

There’s nothing new to this since government wants a business to be regulated properly and you can only do this through the use of fiat currency. Even on my country, Crypto is not accepted on casino to gamble since people still preferred fiat when it comes to local casino because this is what being use most of the time than crypto.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

Who assume this? Unless Brazil is know for being popular on using crypto on gambling then this is true but most of the casino locally in any country use fiat currency to gamble. This is not a big problem imo when it comes to local casino but their target is local customers.

[Davidvictorson]

Once again the Brazilian government is going against innovation and proving to be stupid.

Personally I think that the Brazilian government made these decision without any evidence or data to back it up other than hearsay. It is important that regulatory bodies based their decision making process on empirical evidence. When they do this, it becomes clear for all to weigh the actual risk and benefits of such regulation. However when they make decision of the top of their heads against Bitcoin, I see it as witch-hunting. In addition, they kill any innovation that may have been trying sprout up. And finally, this is the kind of decision that kills the sustainability of the gambling industry.

[Hispo]

It is not only something which could be said about the government of Brazil, to be honest, there are a handful of jurisdictions on the planet which are quite closed minded when comes to the use and potential of Bitcoin and cryptocurrency in general. I believe Bolivia does not even recognizes Bitcoin as an asset whatsoever.
The ones who are going to suffer the most are the owners of casinos within the jurisdiction of Brazil and Brazilian gamblers who already had accounts in their favorite casinos, who now need to get used to new platforms and environments they are not used to.

It is weird to see how some administrations around the world do not look beyond the line of the horizon and try to find and equilibrium between adoption and taxation, instead they encourage clandestinity and lose the chance to diversify their economy, moving with the tendency Bitcoin and other cryptocurrencies are causing in other countries on the world.

I expected more wisdom from the administration of Lula, to be honest...

[Distinctin]

When they don't have the system to monitor crypto transactions, then they should just easily announce a ban in crypto for online gambling transaction. Indeed, they are against innovation, I think they should learn from other countries, I mean if a country could regulate a crypto exchange, there should be no difference with regulating an online casino with crypto as part of the payment system.

If this information is correct, we can see that Brazil had allowed crypto exchanges to operate, with the following names.
https://www.datawallet.com/crypto/best-crypto-exchanges-brazil

For newcomers to cryptocurrency, our research team has evaluated numerous exchanges and highlighted the five most secure and trusted options for Brazilian users:

Bybit - Best Cryptocurrency Exchange in Brazil
Gate.io - Most Diverse Cryptocurrency Selection
MEXC - Low-Cost Derivatives Trading Platform
Binance - Recommended for Institutional Investors‍
Mercado Bitcoin - Best Brazilian Crypto Exchange

[Nheer]

You have to also understand that lots of fraud go through casino and its not a wrong idea for them to regulate it a little, I believe they must be a reason behind this new rule that they brought out l, it can't totally be to stop crypto casinos from excelling in the country, who knows it might be task related.

It could be that Brazilian government is trying to do is make local casinos go out of business or run at loss and probably close down since they don’t want to come out straight and ban gambling casinos, they are coming up with strategies that will force them to close down. Different people have their convenient deposit method so restricting them on certain deposit method to use will force some people to leave local casinos and look for alternative options elsewhere which will in turn affect the local casinos and gradually they will lose lots of customers and money.

But I will say the government is just being selfish trying to be in control of everything and doing so will make them to lose a lot once people stop making use of local casinos and start using foreign casinos some will even make use of crypto casinos.

[Solosanz]

Sooner or later they will restrict the citizen to not gamble on online casino outside of their country.

It could be that Brazilian government is trying to do is make local casinos go out of business or run at loss and probably close down since they don’t want to come out straight and ban gambling casinos, they are coming up with strategies that will force them to close down. Different people have their convenient deposit method so restricting them on certain deposit method to use will force some people to leave local casinos and look for alternative options elsewhere which will in turn affect the local casinos and gradually they will lose lots of customers and money.

But I will say the government is just being selfish trying to be in control of everything and doing so will make them to lose a lot once people stop making use of local casinos and start using foreign casinos some will even make use of crypto casinos.

I believe that's not their intention, closing down the casinos will make them not able to make more money from taxing the gamblers. On the contrary, I think they're actually want to encourage people to gamble in land based casino using their fiat, but they're making blunder by only banning cryptocurrency usage in their casino, they forgot to ban people to gamble on foreign casinos.

[Zoomic]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

Once again the brazilian government is going against innovation and proving to be stupid.

For more details, access the full article here.

If the intention of the Brazilian government is to discourage gambling, then they are wrong with their approach.
If their intention is to have total control over the gambling industry, then they are still wrong with their approach.

Whatever the intentions of the government are, they are only reducing the revenue they would have gotten from casinos, betting platforms and even gamblers in their country. Those who are passionate about gambling will always find a way to gamble and once they find an easier means to gamble, they will dump the Brazilian gambling system. The gamblers have nothing to lose, the Brazilian government should look into that law and  make it more favourable to the gamblers and the government so both parties can be happy.

[0t3p0t]

You have to also understand that lots of fraud go through casino and its not a wrong idea for them to regulate it a little, I believe they must be a reason behind this new rule that they brought out l, it can't totally be to stop crypto casinos from excelling in the country, who knows it might be task related.

Yes, we understand that, and maybe that's what the government of Brazil doesn't want, but we all know that crypto based casinos are asking KYC (Know Your Customer), personal information like drivers license and passport so that they will know who they dealing with and prevent such cases as money laundering.

So it doesn't make sense for the Brazilian government to make a total ban on cryptocurrencies.

This is the new technology and we all know that if you look at the other way, there could be advantage of it like blockchain that they can implement as we all know that everything is recorded and immutable. So why not the government take advantage of it instead of going backwards?

The only problem with regulation here in my country is that sometimes they try to freeze funds that came from gambling and mixing platforms that is why they should have to modernize their system to accurately detect legit funds and distinguish the real thing from money laundering as it may complicate and create fear to players.

[Dr.Bitcoin_Strange]

Well, I tried to translate the article but it didn't work, I wanted to know the actual deposit means that is now allowed for casinos that is operating there since they have restricted both bank slip, cash and other alternative methods of deposit. If that's the case, then gambling should be ban in the country because it seems they don't want gamblers to have a comfortable deposit means. Since the law promotes clandestine,  there will be punishment for those that will secretly use the forbidden deposit methods.

The disadvantage of this law is that it may cause casino in Brazil to lose customers because citizens would use other international casinos.
 

[uneng]

For gamblers, this regulation won't change anything, as long as they play at international platforms which have nothing to do with brazilian territory. For businesses, though, it's highly suggested they just register their services outside brazilian territory and operate as a foreigner business, just like every other gambling services around, so nothing will change for them as well.

In Brazil, you shouldn't waste your time and energies* thinking on how dumb, absurd and shady the laws are. All you have to do is to find gaps on them in order to maintain your activities without breaking such new regulations, and without allowing yourself to be abused by the bureaucrats, oligarchs and politicians.

*Make sure to use your time and energies with self-development, so maybe someday you can have enough conditions to leave this hell called Brazil.

[alegotardo]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

The fact is that in several countries, as in Brazil too, laws need to be created respecting the constitution and other existing laws.

What I want to say is: The Brazilian government really wants to regulate sports betting, but it cannot create a law that benefits this type of business too much to the detriment of national exchanges, for example, which already have several restrictions and obligations to report reports from its customers to the authorities.

Regarding not doing anything against external exchanges, this is quite plausible, as every minimally intelligent politician knows that there is no point in creating laws against external casinos, there are several ways to continue accessing them.

[Saint-loup]

It's the same situation in my country. Regulations are very strict for local casinos and sportsbooks, they can't decide which games and which type of bets they want to offer, many of them are prohibited. And it's the same for promotions and bonuses. The regulator decides which games and which kind of bets are good for citizens and which ones are bad for them actually. Casinos and sportsbooks have to pay big amount of taxes on top of that, despite being strictly regulated and monitored by the authorities.

[Sunderland]

The new brazilian law that regulates online betting excludes the use of payments with cryptocurrencies, bank slips, cash or any alternative deposit payment method that could hinder the origin of resources and government fiscal control over the platforms and customers of the casino.

This could encourage clandestine betting on foreign platforms that accept crypto, outside the reach of national regulation.

The rules are exclusive to casino companies operating in Brazil. Therefore, casinos outside this territory will not be affected and Brazilian users who have accounts in these casinos abroad can continue using these platforms, as regulations cannot stop them.

Once again the brazilian government is going against innovation and proving to be stupid.

Maybe that is just the beginning, and regulations regarding gambling with crypto etc will surely follow.
The government of any country will definitely prioritize taxes as an income for the country, so I think its a bit  too early to call them stupid 
Maybe they dont tax gambling with crypto now but buying and selling crypto is definitely taxed there and if Im not mistaken isnt the crypto tax quite big in Brazil?

[Ruttoshi]

I don't think that this is something gamblers in Brazil should be worried about especially those that are gambling with cryptocurrency. They can gamble in casinos outside Brazil that is accepting cryptocurrency at enjoy the fun.

It is the government of Brazil that will lose because they will not be able to get tax from people gambling outside Brazil in cryptocurrency casinos. I read that already casinos that cannog comply are leaving the country and they have added USDT to their payment option.

Monitoring the citizens that are gambling is too bad because it is none of the government concern.

[acroman08]

sorry if this is a little off topic but is anyone here from Brazil? I am curious, what is Pix? I saw it in the article and while reading through it, I got the feeling that someone wants to pass(or have passed) this law to make gambling bettors in Brazil use Pix more often. also, I can't help but think that this will not stop with online gambling.