New bill could remove sports betting from Brazil’s privatization program
Lawmaker José Guimarães (PT-CE), who brought the Projeto de Decreto Legislativo (PDL) 375/20 before the Chamber of Deputies —the Brazilian Congress’ lower house— said the privatization would affect those social sectors who rely on the funds from bets made in lotteries operated by the Caixa Econômica Federal —a government-owned financial institution—, as well as the funds allocated to social security and public safety. In 2019, Caixa contributed about BRL 6.2 M (USD 1.17 M) to welfare programs.
According to Guimarães, the proceeds from fixed-odds sports betting would go to the private company that would operate this service.
"What is the point in putting lotteries in the hands of the private sector? Caixa’s lotteries are lucrative, efficient and their proceeds translate into resources for areas such as education, sports, culture, and basic sanitation," deputy José Guimarães said.
It is worth noting that the lottery variant that will be privatized was created by the law Lei 13.756/18, but its operation has not begun since the guidelines for the legislation's implementation have not been issued yet.
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