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Lula vows tougher regulation of Brazil’s online betting market

Regulation

Brazilian President Luiz Inácio Lula da Silva said at a ceremony in Mauá on 9 February that the federal government would take a tougher approach to regulating online betting. He argued that gambling can deepen debt among poorer households and called for measures to protect them; he also discussed investigations into financial crime and tax evasion.

Tighter rules could change operators’ compliance requirements in Brazil.

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Enforcement & compliance

Brazil betting ban fails to stop Vorcaro777 site

An illegal betting site using the name and image of Banco Master banker Daniel Vorcaro went live through a company registered to a Bolsa Família beneficiary. The company was opened five days after Brazil's measure banning online betting, and payments were routed via Sants SCD, which said it ended the relationship immediately. Vorcaro's defence denied knowledge of the site, and the Finance Ministry said measures are being taken.

An illegal betting site using the name and image of Banco Master banker Daniel Vorcaro went live through a company registered to a beneficiary of the Bolsa Família and Gás do Povo programmes. The company was opened five days after President Luiz Inácio Lula da Silva signed the Medida Provisória (MP) that banned the online betting market in the country. The platform, called Vorcaro777, was registered abroad with a creation date of 6 October.

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