The recent launch of Brazil's Novo Desenrola debt renegotiation initiative has sparked renewed scrutiny over the use of Pix credit for deposits in online gambling. This program, introduced by the federal government in May, includes a provisional measure that aims to prohibit "credit operations directly linked to the transfer of funds for placing bets."
According to reports from BNL Data, Article 16 of this measure is designed to close a loophole that has allowed gamblers to utilize credit-linked Pix transfers to fund their betting accounts. Notably, the measure does not explicitly mention Pix credit, as it is not regulated by the Central Bank or the government.
This restriction is particularly relevant given that a staggering 80.4% of Brazilian households are currently in debt, as indicated by the CNC's Indebtedness and Default Survey, marking the highest recorded level since the survey began in 2010.
Pix credit operates by linking credit options to a Pix transfer. In one scenario, a bank processes a credit card payment, applies service fees, and then transfers the funds to the recipient via Pix. In another case, a personal loan is granted with interest, and the loan amount is sent to a business.
Legal experts in both the financial and gambling industries interpret Article 16 as a prohibition against using Pix credit for betting deposits, viewing it as a form of postpaid payment since the consumer settles the payment after the transaction.
Since January 2025, regulations in Brazil have barred licensed betting operators from accepting any postpaid payment methods, including credit cards, as stipulated in Ordinance 615 from the Secretariat of Prizes and Betting (SPA).
On April 30, President Luiz Inácio Lula da Silva confirmed the prohibition of betting payments for individuals benefiting from the Desenrola program, stating, "It's not fair that women have to work even harder to pay off their husbands' gambling debts."
A survey conducted by FSP revealed that as of May 15, Bradesco and Banco do Brasil were still offering credit card payment options. Bradesco asserted compliance with current regulations, while Banco do Brasil indicated it adheres to applicable rules and provides credit lines based on customer profiles.
Some financial institutions, such as Nubank and PicPay, have blocked Pix credit transfers when the recipient's CNPJ corresponds to a licensed betting operator, cautioning users about associated risks.
The Treasury has identified 85 licensed betting operators. However, betting companies claim they cannot determine if a Pix payment originated from a credit transaction, as it appears on their platforms as a standard Pix transfer.
The Treasury emphasized that financial and payment institutions must adhere to regulations concerning credit instruments tied to Pix transactions. Although the Central Bank acknowledged that credit operations occur within the banking system before reaching the final recipient, officials noted that oversight procedures are still being developed.
Current regulations impose penalties on betting operators who breach postpaid payment rules, which could include license suspensions and fines reaching up to R$ 2 billion. However, the SPA lacks the authority to penalize banks.
José Francisco Manssur, a lawyer who contributed to drafting the betting law during Lula’s administration, remarked, "The SPA still needs to issue a decree that would empower it to penalize the suppliers of betting operators, not just the operators themselves. This creates a regulatory gap."