In a speech in the Senate Plenary Senator Damares Alves criticized the decision of Caixa Econômica Federal to launch its own online betting platform. According to her, the initiative undermines the social function of this public bank and poses a risk to Brazilian families by promoting gambling addiction among the most vulnerable populations.
“The decision of Caixa Econômica Federal to create its own online betting platform, represents perhaps one of the greatest moral and social setbacks in the recent history of the country. It is a contradictory, dangerous, and profoundly irresponsible move coming precisely from a public institution, which was founded to promote social development, affordable housing, and financial inclusion, not to exploit the addiction and economic vulnerability of the poorest population,” she stated.
As reported by the Senate News Agency, according to Alves, the creation of the so-called “Caixa bet” contradicts the federal government’s rhetoric of combating the harmful effects of online gambling.
“The same government that claimed to want to control the damage now decides that it will itself be the agent of exploitation, transforming a public bank, a symbol of national trust, into an official betting house. It must be said clearly: this is a tragedy foretold! Those who did not believe in betting, who were afraid . . . will now believe in betting because this will be within an institution that is serious. They took betting, which we are showing harms health, harms the economy, destroys families, and put it in Caixa because Caixa has a good image,” she said.
The senator’s statements come after Caixa’s president, Carlos Vieira, confirmed that Caixa will launch its online getting platform in November. In an interview with O Globo, the executive said the Brazilian state-owned bank aims to be a major player in the sector and expects to generate between R$2 and R$2.5 billion in its first year of operation.
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In a speech in the Senate Plenary Senator Damares Alves criticized the decision of Caixa Econômica Federal to launch its own online betting platform. According to her, the initiative undermines the social function of this public bank and poses a risk to Brazilian families by promoting gambling addiction among the most vulnerable populations. “The decision…
The post Senator labels Caixa’s decision to launch online betting as “profoundly irresponsible” appeared first on G3 Newswire.