Brazil🇧🇷: Betting ban reduces Pix transactions and sparks mixed reactions

Brazil🇧🇷: Betting ban reduces Pix transactions and sparks mixed reactions

🔤 Number of #Pix transactions during the three days following the publication of the ban on Friday, September 25:

⬇️ Saturday, September 26 — 229.6K (-11.0% compared with the average of the previous four Saturdays);
⬇️ Sunday, September 27 — 165.9K (-12.0% compared with the average of the previous four Sundays);
⬇️ Monday, September 28 — 213.0K (-7.4% compared with the average of the previous four Mondays).

‼️ Overall, the number of transactions fell by 10% over the three-day period.

🔤 Banks, however, largely reacted favorably to the ban. From this perspective, the betting ban could contribute to higher disposable household income and, consequently, improve the quality of bank assets.

🔤 Lawyers, on the other hand, are largely opposed to the measure, despite their negative stance toward betting as an activity. The 2023 Betting Act was passed after lengthy congressional debates and, according to experts, its repeal would dismantle the existing legal framework and create a climate of legal uncertainty.

🔤 Fintech companies, meanwhile, anticipate potential negative effects. Many of them work exclusively with the gambling sector, while others derive a significant share of their revenue from betting operators. As a result, abrupt changes could have adverse effects on the sector.

The impact of these measures will continue to be monitored.

#news #Brazil #gambling #betting #hrequnews

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