Technical support issues
Brazil is fighting an online gambling war this summer, and appears to be trying to follow in the footsteps of UIGEA in the United States. One recently proposed legislation would be identical to UIGEA in that it would prohibit the processing of all payments related to online gambling. Another bill under way in Brazil's parliament goes even further as it seeks to force ISPs to completely block access to online gambling sites.
Senator Alves Pilho proposed a second bill, and wrote in his draft that it was actually inspired by the "good results" brought by the United States Agency for International Affairs. I wonder what he calls "good results." The fact that no bank has a clue what kind of deal to block with the "good results" the Justice Department gets from the huge fines it imposes on foreign gambling executives?
Two years ago, a bill banning payments targeting sports betting sites was introduced into Brazil's legislature. The Bill did not receive enough support and failed to pass the Bill. These recent proposals, however, seem to have significant support within Brazil's legislature, so they may have an opportunity. The concern is that the two bills will eventually merge into one law, which will cause a complete ban on online gambling in Brazil.
Monday, November 20, 2023