Brazil's President Lula Ends Regulated Online Gambling Overnight

In a sudden turn of events, President Luiz Inácio Lula da Silva has effectively ended the regulated online gambling market in Brazil. The decision, made on September 25, 2024, impacts both sports betting and online casinos, leaving international companies such as bet365, Entain, and Betano to wind down their operations.

The measure, which will be in effect for 120 days, allows Congress to deliberate whether to make it permanent. This decision comes in response to Senator Flávio Bolsonaro's stance on ending online gambling if he wins the presidency. The regulated sector is now in disarray, with no recourse as the measure takes effect.

Betting websites and apps must shut down by October 6, whereas any customer balances must be cleared and returned from October 9 through October 14. Gambling advertising is also going down with immediate effect and must be wound down over the 10 days following the announcement on Friday, September 25.