Brazil’s president backs national ban on online betting platforms
Brazilian President Luiz Inácio Lula da Silva said he favours a nationwide ban on online betting platforms, while noting that lawmakers would have to approve any change. The report puts annual platform revenue in Brazil above $4bn and says the government is also seeking to raise the current 12% tax on company income.
A proposed ban or higher tax could materially alter the operating conditions for licensed betting companies in Brazil.