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Brazil’s Finance Ministry reports USD 264.5m in betting account balances

Regulation

About USD 264.5 million remained in users’ accounts as betting and online casino platforms began to be blocked in Brazil, according to Finance Ministry data cited in a media report. Operators must provide financial institutions with account and balance details for refunds due between 9 and 14 October; the ban is not final and still requires Congress approval.

Operators must return remaining user balances while the provisional ban awaits Congress approval.

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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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