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Brazil’s Finance Minister Demands Betting Crackdown
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Brazil’s finance minister demands betting crackdown
Brazilian Finance Minister Fernando Haddad has openly condemned the online gambling industry, asserting that no amount of tax revenue can justify its existence. Haddad expressed that, if it were up to him, he would eliminate the sector altogether. He characterized the rapid rise in betting across Brazil as a “public health emergency” and criticised the prolonged lack of regulation that allowed the industry to expand without proper control. The M…
Finance Minister Fernando Haddad said the situation involving betting is a "public health problem" and has "turned into a plague." Critically, he asserted that it is necessary to demonstrate that betting is "the path to failure," resulting in financial loss. The minister stated that he will present a report to President Luiz Inácio Lula da Silva (Workers' Party) regarding the functioning of the regulated market, which came into effect in January…
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