Home » Betting is entertainment and should not be seen as an investment, says gaming law expert – Games Magazine Brasil

Betting is entertainment and should not be seen as an investment, says gaming law expert – Games Magazine Brasil

To this end, he defends responsible gambling, which is provided for in the sports betting law – bookmakers themselves cannot encourage compulsive gambling, nor the idea that profit is a guarantee.

Although the research provides a comparison between the betting market and the financial and capital markets, the report indicates that 70% of bettors do not consider online betting as a form of investment. On the other hand, 40% of those who bet understand that it is a way to make quick money in a time of need.

Lawyer Fabiano Jantalia, founding partner of Jantalia Advogados and specialist in Gaming and Betting Law, sees this research as an important warning sign for the market. “Law No. 14,790, of 2023, is very clear in establishing that sports betting cannot be seen as an alternative to employment, or a solution to financial problems, a source of additional income or a form of financial investment.”

“Online betting must clearly be offered by operators as a means of entertainment, fun, and not as an investment,” he points out.

For him, the research shows that operators will need to develop robust and consistent responsible gaming policies to raise awareness among bettors and present mechanisms to prevent gambling, as well as to avoid risks such as the judicialization of demands by bettors.

The practice of responsible gambling is related to the conduct of the bettor, who places bets in a rational manner, without compromising financial, professional, family and social responsibilities.

“Responsible gambling is fundamental for a healthy experience and for a conscious and safe relationship with games and sports betting, avoiding compulsive disorders that are harmful to the individual, their family and society,” highlights Jantalia.

“The Brazilian gaming and betting market is on the rise and has proven to be one of the largest and most promising markets for exploring this important economic activity that can bring numerous advantages to the country, such as creating new jobs and collecting taxes.”

“However, to achieve its full potential, it is essential that the structuring of the gaming and betting market and its exploration have responsible gaming as one of its main pillars,” he adds.

Source: GMB