ANJL warns Brazil betting ban could strengthen illegal market
Brazil’s National Association of Games and Lotteries (ANJL) warned that abruptly banning regulated sports betting could push more activity into the illegal market. Citing estimates attributed to the Federal Court of Accounts, the association said illegal betting accounts for 41% to 51% of bets and could generate up to R$40 billion annually; it also argued that a sudden reversal could deter investors.
The association’s warning concerns the effects of a potential ban on licensed operators, illegal-market activity and investor confidence.