IBJR members in Brazil have decided to push the credit card embargo up to October.

 Anjil, Brazil's National Association of Games and Lotteries, and IBJR, Brazil's Institute of Responsible Gaming, have both urged its members to expedite the prohibition of credit card gambling.  It has been decided that the ban would be expedited by all members of the IBJR.
 Argentina's Anjl Ibjr Credit
 Credit cards, cryptocurrency, cash, payment slips, and checks will no longer be accepted for betting in Brazil's legal online betting market, which launches on January 1, 2025, according to Normative Ordinance No. 615, which was published in April.

 From October 1st, however, only businesses with an existing presence in Brazil and a valid betting licence will be permitted to remain open for business.

 The ANJL and the IBJR have both called on their members to voluntarily request that the ministry of finance ban credit cards following their talks.  This is in line with the IBJR's larger goal of establishing a secure betting market in Brazil, as its members are said to constitute over 70% of the country's betting industry.

 Almost every member of the ANJL has already eliminated the ability for customers to use credit cards when placing bets, according to the organisation.

 The credit prohibition is set to take effect on January 1, 2025, but the relevant associations are worried about the potential financial loss that players who bet with credit cards may experience between October 1, 2024, and December 31, 2025.

 By posting on Linkedin, the IBJR expressed their clear belief that regulation is the best and most effective method to address these concerns, safeguarding both consumers and the state.

 "As the preeminent trade group, we are ready to help find answers to problems that affect both the needs of the government and the general public."

 Criticism of Brazil's gambling industry is on the rise
 Officials in Brazil's public and private sectors have recently increased their scrutiny of the gambling business, focussing on the negative social and financial effects that gambling has on the country's most vulnerable citizens.

 Isaac Sidney, president of the Brazilian Federation of Banks (Febraban), pushed for the ban to go into effect sooner rather than later in order to safeguard players before the October deadline was announced.

 The ANJL, however, made it clear that it has not recommended its members to propose the ban due to this growing pressure.

 It went on to say that most gamblers prefer using Pix, an instant payment provider, rather of their credit cards.

 "This is not a response to criticism from other sectors," the ANJL stated in an email that was shared with that news outlet.  "Currently, the industry practically does not accept card payments at all.

 Offering players Pix is something that the operators are already doing quite a bit, and we're just bolstering that.  Nonetheless, the ANJL is cognisant of the fact that the elimination of credit cards as a payment option is mutually advantageous.

 How common is it for Brazilian gamblers to utilise credit cards?
 Opinions vary on how widespread the practice of using credit for gambling actually is.

 While the IBJR asserts that credit accounts for around 0.5% of deposits, the ANJL estimates that it is utilised for fewer than 3% of total bets placed on its members' platforms.

 But Central Bank president Roberto Campos Neto insisted on Thursday (26 September) that between 10% and 15% of all transactions were for credit-based online gaming.

 In statements supplied with Folha, Campos Neto says: "Sometimes you can do a credit card transaction with a digital wallet." However, he is uncertain of the proportion.  And because the digital wallet handles the transaction, the credit card company has no idea what is being bought.

 "If we limit our investigation to the credit card channel, we may miss some instances where the card in question was actually used to buy the item in question."

 What kind of smoothing relations do the ANJL and the IBJR have?
 Recent data publication has stoked fears that the Brazilian public will suffer financially as a result of the impending betting regulation.

 While Yield Sec data indicated that authorised operators could only cover 9% of Brazil's overall online betting market, a survey by market research company Hibou indicated that 10% of the Brazilian populace had experienced financial troubles due to gaming.

 In response to a contentious survey by the Brazilian Society of Retail and Consumption (SBVC) that stated 23% of respondents were gambling away money that should have gone towards food, clothing, and medicine, the ANJL retaliated last week in an open letter.

 In response, the ANJL cited statistics from Brazil's Institute of Geography and Statistics (IBGE) that showed consumer spending in the country came up 1.3% in Q2 compared to Q1 and 4.9% year-on-year.

 A total of fifteen Brazilian businesses and organisations have joined a manifesto calling for stricter advertising laws and new taxes (the "Proposal for the Nation").

 As a result, the ANJL has demanded more cooperation between the Brazilian government, important private sector companies, and itself in order to ensure a safe betting industry.

 With a statement that read: "IBJR is formalising requests for meetings with government agencies such as the ministry of industry and commerce, the central bank, the ministry of health and the ministry of social development so that we can collaboratively discuss effective measures to mitigate the potential adverse effects of gaming and betting activities in Brazil," the IBJR echoed previous statements.