Brazilian retail sales fall 4% in October after betting suspensions
Regulation1 min read
Cielo’s ICVA recorded a 4% real decline in Brazilian retail sales in October 2026, the first full month after authorised betting operations stopped on 6 October following publication of MP 1.394/2026. Nominal retail sales rose 1.3% year on year; online sales fell 0.5% and physical retail grew 1.9%. Stellar Gaming executive Fellipe Fraga said the figures challenged claims that regulated betting was harming Brazil.
Brazilian retail sales fell 4% in real terms in October 2026, according to Cielo’s retail index, in the month authorised betting platforms left the market. It was the 17th consecutive month of contraction and the weakest October result since 2023.
The decline was smaller than September’s 4.2% fall, but worse than the 4.1% drop recorded in October 2023. Without adjusting for inflation, retail revenue rose 1.3% from October 2025. E-commerce revenue fell 0.5% in October, while physical retail revenue grew 1.9%, with neither figure adjusted for inflation.
Authorised betting companies stopped operating on 6 October, following the publication of Provisional Measure 1.394/2026 on 25 September. Retail performance has since become part of the debate about the possible effects of the ban on regulated betting on consumer spending.
Fellipe Fraga, chief business officer of Stellar Gaming, rejected claims that regulated betting was harming Brazil in comments on the figures on LinkedIn. Stellar Gaming was among the companies authorised by Brazil’s SPA before the measure took effect.