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Regulus Partners puts chance of permanent Brazil betting ban at 5%

Regulation

Regulus Partners estimated a 5% probability that Brazil’s provisional betting ban would become permanent. The consultancy also put the chance of an interruption lasting at least a week at 85%, and said the measure required congressional approval within 60 days, extendable for the same period.

Operators and suppliers can use the estimates to gauge the risk of a prolonged interruption to regulated betting activity.

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Regulation

President Lula bans online betting operations in Brazil through provisional measure

President Lula issued a provisional measure immediately banning online betting operations in Brazil. Licensed sites face blocking from 6 October, and Congress has 120 days to ratify or amend the measure. Betano is preparing legal action, while Allwyn and Entain have outlined potential effects on their forecasts.

On Friday, with the country's general election two days away, President Lula signed a provisional measure that halts online betting sites in Brazil with immediate effect. Licensed operators will be blocked from 6 October, and customers have until the preceding day to ask for their money back. Any funds still held after that deadline must be credited by the sites to registered accounts during the window of 9 to 14 October. Because the instrument is provisional, Congress must review it, ratifying or amending it inside 120 days.

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