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Brazil sets October deadlines to close betting platforms and return balances

Regulation

Brazil's government announced a timetable following its measure to prohibit fixed-odds betting, with new deposits barred from publication and platforms due to go offline on 6 October. Users could withdraw balances until 5 October; banks were to return remaining funds from 9 to 14 October, with Caixa Econômica Federal handling cases where repayment was impeded.

Operators and their banking partners face fixed deadlines to close platforms and return customer balances.

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Regulation

Lula orders Brazil’s regulated betting market to close from 6 October

Brazilian President Luiz Inácio Lula da Silva ordered a halt to fixed-odds betting through a provisional measure, with authorised operators’ sites and apps due to cease activity on 6 October. Players can request withdrawals until 5 October; operators must consolidate identified customer balances on 7 and 8 October and return remaining funds through banks and financial intermediaries between 9 and 14 October. The measure excludes compensation for lost profits and investments, according to the report.

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