From the financial entity, it was explained that there might be errors in the samples taken for their study, which generated controversy across the country and prompted government actions to prevent social plan beneficiaries from using that money for gambling.
Brazil.- Following a request from the newspaper Folha de São Paulo, the Central Bank explained that there are no guarantees that the study indicating that Bolsa Família beneficiaries transferred R$ 3.000m (USD 526m) through Pix to online sports betting companies is not subject to flaws.
The publication of the study, after being submitted to the Senate, caused a huge reaction, even within the government of President Luiz Inácio Lula da Silva, who made public comments about his concerns regarding this situation.
The Central Bank also confirmed that it had not presented preparatory documents for the drafting of the technical note, published on September 24. Despite not providing information on the material supporting the study, the Central Bank mentions terms such as "survey", "registration data", contradicting its own response. Moreover, the entity denied access to the data used as input for the preparation of the technical note, considering them "protected by secrecy or confidentiality norms".
As shown by Folha's investigation, the report left gaps and also provoked reactions from industry executives, who accused the technical analysis of not taking into account the value returned in prizes. According to a survey commissioned by the betting sector, Bolsa Família beneficiaries spent R$ 210m (USD 36m) on bets in August, a figure significantly lower than that published by the bank.
According to the bank, some of the figures were collected based on quotes "extracted from news from information providers and reports from consultancies that have worked in this betting market, available on the Internet".
In the technical note sent to the Senate in September, the BC states that "approximately 15 percent of the amount bet is retained by the companies", with the rest going to the winners. The institution, however, does not disclose the amounts paid in premiums. The figures are questioned by industry executives.
At the request of the AGU (Attorney General of the Union), the Ministry of Development, Industry, Commerce, and Services prepared a technical note on the subject, denying the information that spending on betting caused a drop in retail trade and increased population indebtedness. The ministry also questioned the Central Bank's conclusions on the subject.
According to information gathered by Folha, the limitations of the study conducted by an organization known for its technical rigor were met with surprise, while the lack of authorship attribution of the study caused discomfort among government members.
See also: Online gaming in Brazil: new warning from Lula da Silva about the effectiveness of Law 14.790
From the Central Bank, it was explained that the study used data from the Pix payment base, claiming to have individual customer information, protected by banking secrecy. To identify people in great financial vulnerability, it considered information from Bolsa Família beneficiaries in December 2023.
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