Brazil Bans Online Betting Before Election, Keeps $492M in Licensing Fees
Key TakeawaysBrazils Provisional Measure 1,394 bans sports betting and online casinos, with sites offline from Oct. 6.The 85 license holders get no refund of the $492 million they paid, and operators plan to sue.A companion bill would criminalize processing betting payments, including through crypto. A Seismic iGaming Change Just Before Presidential Vote Brazils Provisional Measure 1,394 was published in an extra edition of the official gazette on the evening of Sept. 25 and took effect immediately. It prohibits the operation, offering, intermediation and advertising of all fixed-odds betting in Brazil, covering real sporting events and online casino games alike. The ban explicitly reaches operators based abroad that serve people in Brazil, and it also ends betting concessions granted by Brazilian states. Other lotteries authorized by law are exempt. President Luiz Inácio Lula da Silva signed it at a ceremony in São Paulo, where Finance Minister Dario Durigan presented the measure. The move follows a week of reports that the government was drafting a ban by decree. New deposits have been barred since publication. According to the government‘s timetable, bettors have until 11:59 p.m. on Oct. 5 to withdraw their balances, and licensed sites and apps go dark from midnight on Oct. 6. Bets not









