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Brazil reports R$1.325bn in betting balances awaiting return

Regulation

Brazil’s Finance Ministry reported that R$1.325bn remained to be returned to about 26.5 million bettors after the voluntary withdrawal period ended on 5 October, according to a report. The ministry’s schedule said companies would send balance details to banks by 7 October, with repayments planned from 9 to 14 October; amounts that could not be returned would be transferred to Caixa from 14 October. The report also noted conflicting figures on operating sites and blocked addresses.

Operators and payment providers face scheduled duties to return bettors’ remaining balances.

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Regulation

Brazil’s betting ban leaves operators’ future subject to court and Congress

Brazil’s fixed-odds betting ban remains in force as legal challenges proceed before the Supreme Federal Court and the measure awaits congressional consideration, according to the report. Existing operator authorisations expired on 25 October after the 30-day transition period; a suspension or lapse of the measure would not necessarily restore them automatically.

Brazil's fixed-odds betting ban remains in force while the Supreme Federal Court and Congress consider its validity, after President Luiz Inácio Lula da Silva's re-election added uncertainty to the sector's future, according to the report. Lula defeated Flávio Bolsonaro with 51.8% of the vote against just over 48%, according to official results. The victory strengthens Lula politically but does not by itself resolve the legal battle or make the prohibition a permanent rule.

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