The National Association of Games and Lotteries (ANJL) Responds to Criticism from Financial Sector Leader
In a recent exchange, the National Association of Games and Lotteries (ANJL) has expressed its strong disapproval of remarks made by Aquiles Mosca, a prominent financial figure in Brazil and the director of the Brazilian Association of Financial and Capital Market Entities (Anbima). Mosca’s commentary, embedded in an article published in Valor Econômico, garnered attention for its critical stance on Brazil’s regulated online betting industry, which officially began operations on January 1st.
In his piece titled “Bets: The bookmaker who lives in your pocket will make you unhappy,” Mosca focused on the potential negative impacts of online gambling, highlighting issues like addiction, relationships struggles, financial ruin, and even suicide. Such sweeping generalizations have drawn the ire of the ANJL, which, along with other industry advocates like the Brazilian Gaming Association (Abrajogo) and the National Gaming Association (AIGaming), released a formal repudiation of Mosca’s claims.
The ANJL characterized Mosca’s analogy of the regulated betting market as a mere “pocket bookmaker” as not only disrespectful but also fundamentally misguided and uninformed. They emphasized that his comments overlook the significant institutional and regulatory achievements facilitated by Brazil’s legal betting framework.
In their statement, the coalition of gaming organizations sought to clarify misconceptions that stemmed from Mosca’s article. They contested his assertion that gambling correlates with unhappiness and heightened financial instability. In contrast, they presented evidence showing that since the inception of the regulated market, it has yielded over BRL4 billion (about £534.1 million or €625.5 million) in revenue for the Brazilian government through taxation and licensing fees.
Moreover, the ANJL underscored the positive contributions of the betting industry to the job market and its role in fostering innovation and economic growth within Brazil. They stressed that all licensed operators must adhere to stringent regulations, ensuring compliance with both legal standards and tax obligations, overseen by governmental bodies.
The organizations further lamented Mosca’s insinuation that the regulated betting sector is linked to criminality. They rebutted this by asserting that conflating a legitimate, regulated industry, which contributes tax revenues and adheres to social responsibilities, with illegal activities is both unjust and without merit.
In light of these developments, the ANJL and its allies are urging public officials to reject disparaging comments such as Mosca’s, which they feel belittle a regulated industry while undermining the Brazilian Senate’s efforts to enhance the market’s structure. Their joint statement reaffirmed their dedication to fostering a legal, transparent, and sustainable regulatory environment that supports responsible gaming and economic stability.