Brazil govt announces ban on online betting operations
- Websites of online betting companies will remain available for bettors to claim their remaining funds until Oct 5th
- Govt will not return license money to betting firms
**Context: Brazil licensed online sports betting and casino games in January 2025, making a full ban a sharp reversal for operators that invested in the market. Lula had already advocated a ban, so the direction was signaled; the consequential change is the timetable for shutting down licensed operations and advertising. The September 25 measure reportedly stopped new customer deposits immediately and set October 6 for betting sites to cease operations.
Related: EWZ FLTR.UK USD/BRL PWL.IE.OLD DKNG FLUT