Brazil's President Lula bans online betting ahead of presidential election

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Published: 2026-09-26 • Permanent link

Banishing the Odds: Brazil's President Lula Takes Down Online Betting Ahead of Presidential Election

Brazil's President Luiz Inácio Lula da Silva has signed an order banning fixed-odds betting just over a week ahead of the first round of the presidential election, effectively shutting down the country's lucrative online betting market. The ban is expected to affect approximately 2.5 million people who placed bets online, resulting in losses estimated at around $1.2 billion. Industry insiders have expressed disappointment, with many accusing the government of overstepping its authority.

The move is seen as a bold attempt by President Lula to tackle the growing problem of problem gambling in Brazil, which has been a contentious issue for years. Critics argue that the ban will drive the industry underground, making it easier for unregulated operators to exploit vulnerable individuals. As a result, consumer protection and regulatory oversight will likely suffer, leading to a surge in illicit betting activities.

Brazil's online betting market has grown significantly since 2018, with the sector generating an estimated $3.5 billion in revenue. The industry's rapid expansion has been driven by the increasing popularity of sports betting, particularly among younger demographics. However, experts point out that the market's unregulated nature has led to concerns about money laundering, match-fixing, and other forms of corruption.

The long-term implications of the ban are still unclear, but analysts predict that it could have far-reaching consequences for the country's economy. The loss of revenue from the betting industry could lead to a significant decline in tax revenues, potentially affecting the government's ability to fund social programs and public services. As the country prepares for the presidential election, the ban is likely to become a contentious issue, with opposition parties accusing President Lula of using the ban as a means of suppressing opposition.