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Bolsa Família Beneficiaries Use PIX to Transfer Over £500 Million to Betting Sites

Beneficiaries of Brazil's Bolsa Família social welfare program have transferred over £500 million to betting sites via the PIX instant payment system, according to a recent report.


Postada em 30/09/2024 às 10:28
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The report, conducted by the Brazilian Central Bank, found that between November 2021 and October 2022, Bolsa Família beneficiaries made over 10 million transfers to betting sites, totaling over £500 million. This represents a significant increase from the previous year, when beneficiaries transferred just over £100 million to betting sites. The surge in transfers has raised concerns among policymakers, who worry that beneficiaries may be using the money intended for essential expenses on gambling. The Brazilian government has since taken steps to restrict the use of Bolsa Família funds for gambling, but it remains to be seen whether these measures will be effective in curbing the trend.