Brazil President bans online betting ahead of election

Brazil's President Luiz Inacio Lula da Silva has announced a ban on online betting operations in the country.

The executive order bans online betting operations in Latin America’s largest nation.

It took immediate effect, but needs to be approved by Congress within 120 working days in order for the ban to remain in force. The provisional order prohibits fixed-odds sports betting, aside from digital casinos. It prohibits new deposits into accounts, and allows users of betting platforms to withdraw their funds until 5th October.

Online betting had been legalised in the country in 2018 but remained largely unregulated. Efforts to regulate the industry kicked off in late 2023, with the new legislation coming into effect on 1st January 2025.

The Brazilian President announced the ban on Friday, just over a week before the country heads to a Presidential election. The President’s Government has also drafted a bill that would create criminal offences related to fixed-odds betting.

Reports read that the Brazilian Finance Ministry estimates households spend about 60 billion reais annually on online betting. The gambling boom sparked warnings about the impact on mental health and on families. The Brazilian President said that it has turned into “uncontrolled gaming," and described the industry as a cancer.

A survey by Atlas and Bloomberg showed that three-quarters of adults in Brazil support the internet betting ban.