Brazil finance ministry weighs betting secretariat's future amid proposed ban

Brazil's Ministry of Finance is considering reducing or closing its Secretariat of Prizes and Betting if sports betting and online casinos are prohibited, according to a media report. Options include retaining basic functions to monitor illegal activity and lotteries or ending the secretariat. The report cites projected annual betting revenue of R$2.5bn that would be at risk under a ban; no prohibition has been enacted in the material.