President Lula Bans Fixed-Odds Betting Platforms in Brazil

President Luiz Inácio Lula da Silva signed an order banning the operation, offering, intermediation, and advertising of all fixed-odds betting platforms in Brazil. The move comes nine days before the first round of presidential elections and follows reports that approximately 2 million Brazilians suffer from online gambling addiction. Polls indicate that over 70% of the population supports such a ban.

Following the order, the Brazilian government reported the removal of 506 websites that continued to offer betting services. To remain in effect, the order requires approval from congress within 120 days and must withstand potential challenges in the judiciary.

While the decision is popular among some supporters of rival candidate Flávio Bolsonaro, betting companies are preparing legal challenges to the order. Additionally, Serie A soccer clubs warned that the ban could threaten the financial viability of the sport, as betting platforms currently sponsor all 20 top-division clubs.