Brazil orders online gambling operators to shut down by 6 October
Brazilian President Luiz Inácio Lula da Silva confirmed the end of the country’s regulated online gambling market, according to reports. Operators must close their sites and apps by 6 October, after which they have two days to report remaining player balances; banks are expected to return funds by 14 October. The report says Brazil issued 85 licences at R$30m each.
Licensed operators must cease Brazilian operations and follow specified deadlines for reporting and returning player balances.