Brazil's AGU to sue eight betting firms over missing balance data

Brazil's Advocacia-Geral da União (AGU) will take legal action against eight sports betting companies that did not send bettors' remaining balance data to financial institutions, according to a report attributed to the federal government's legal office. The deadline for sending the information to banks ended on 7 October. The action seeks to compel the companies to provide the data banks need to return the funds.

According to the report, R$159m remains to be returned following the end of the voluntary withdrawal period, which ran until 5 October. The companies were required to tell banks each bettor's amount, identified by CPF, and the bank account used for deposits. Without that information, financial institutions cannot carry out the refunds scheduled for 9 to 14 October.

Data already sent by the other companies covers 22.5 million bettors with a remaining balance, spread across 70.5 million accounts, according to the federal government. Of that total, 90% of accounts hold a balance below R$1.

Under the restitution schedule, banks are to return amounts to bettors from 9 to 14 October. From 14 October, funds that cannot be returned are to be transferred to Caixa Econômica Federal, which takes responsibility for the refunds thereafter.

Separately, 16,627 illegal betting sites had been referred for blocking by 9 October, the report said. Authorities identified a further 2,979 addresses on 8 and 9 October. Removal was also requested for 3,691 pages, profiles, channels, groups and servers on digital platforms: 1,974 Facebook pages, 1,027 Telegram channels and groups, 560 Instagram profiles, 115 TikTok profiles, 14 WhatsApp groups and one Discord server.