Google recently updated its advertising policy requiring online betting companies to be registered with the Ministry of Finance in order to advertise on its platform. This change is intended to enhance regulation and oversight of these companies.
Google aims to put an end to deceptive practices.
The government is working on regulating online gambling due to its increasing popularity in Brazil. President Luiz Inácio Lula da Silva has called for collaboration among ministries to address concerns about the social and financial impacts of betting. Measures are being developed to prevent the misuse of Bolsa Família resources on online gambling, aiming to protect low-income families.
What is the objective of Google’s decision?
Google’s move to mandate registration with the Ministry of Finance for accepting advertisements from betting firms highlights the significance of a secure and regulated industry environment. This initiative aims to enhance tax compliance and safeguard consumers, particularly those enticed by quick financial gains and susceptible to significant losses from gambling.
The new measures aim to increase companies’ accountability and reduce the negative social impacts associated with online gambling. This new regulation takes effect today and requires gambling sites to verify their registration in order to advertise on Google, marking a significant move towards market regulation in Brazil.
Paraphrased: Origin