Brazil’s Lula bans fixed-odds betting by executive order
Brazilian President Luiz Inácio Lula da Silva signed an order banning fixed-odds betting, which takes effect immediately, according to reports. The measure prohibits betting operations, offers, intermediation and advertising; users have until 5 October to withdraw funds. Congress must approve the order within 120 days for it to remain in force.
Operators face an immediate halt to fixed-odds betting, subject to congressional approval within 120 days.