1 of 1
Story summary
- President Luiz Inácio Lula da Silva banned all online gambling and sports betting on Friday.
- The decree criminalizes fixed-odds betting, stops new deposits, and forces gamblers to withdraw funds by Oct. 5.
- Congress must approve the ban within 120 days.
- Polls indicate 60-70% of Brazilians favor the ban.
- The sector generated over $4 billion in 2025 revenue while NAGL will appeal for 30 million reais compensation.
