Brazilian government sets deadline to withdraw betting account balances

Customers with money in Brazilian betting accounts had until 23h59 on 5 October to request a withdrawal, the last day for voluntary redemption before platforms stop operating. From 6 October, sites and apps cease operations under the implementation schedule of Provisional Measure No. 1,394/2026, which prohibited the exploitation, offering, intermediation and advertising of fixed-odds betting in the country.

According to Finance Ministry data updated on 5 October, R$1.33bn was still awaiting redemption on the platforms, a reduction of R$775.6m since 26 September. Over the same period, the number of CPFs with a positive balance fell by 2.36 million, from 28.9 million to 26.54 million.

Users were advised to access each platform where they hold an account, check for a balance and request withdrawal on the day, even for small amounts, and to check every company where they have accounts. About 92% of accounts with a positive balance hold less than R$10, and more than 96% hold less than R$25. The balances are concentrated in a small share of accounts: approximately 1% holds 80% of the funds, 3.4% holds 90% and 8.3% holds 96%. The percentages refer to accounts on the platforms, and one CPF may hold accounts at different companies.

Balances not withdrawn voluntarily follow a restitution schedule. On 7 and 8 October, companies must inform financial institutions of the remaining balances, broken down by CPF. From 9 to 14 October, banks are to provide the refund. Where restitution is impeded, funds are transferred from 14 October to Caixa Econômica Federal, which becomes responsible for returning them to bettors.