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Lula convenes ministers to discuss Brazil's fixed-odds betting market

Regulation

Brazilian President Luiz Inácio Lula da Silva convened ministers to discuss fixed-odds betting, reportedly alongside the separate issue of taxes on international purchases. The meeting came amid debate within the government over restrictions, including measures against automatic bets and a proposed interval between wagers, which had not been published as an ordinance.

The discussion could shape further restrictions on licensed betting operators in Brazil.

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Regulation

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.

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