Fixed-Odds Sports Betting Banned in Brazil Ahead of Elections

Brazilian President Luiz Inácio Lula da Silva has signed a provisional decree banning fixed-odds sports betting just over a week before the first round of the presidential election.

Scope and Details of the Decree

The decree signed by Brazilian President Luiz Inácio Lula da Silva completely ends the operation, offering, intermediation, and advertising of fixed-odds sports betting.

Enforcement Process and Right to Withdraw

Taking effect immediately, this provisional decree must be approved by Congress within 120 days to remain valid. The regulation bans new deposits into accounts while allowing users time to withdraw their funds.

New Legal Regulations and Charges

The Lula government has prepared a new bill to establish crimes related to fixed-odds betting, the most common type of online sports betting. The bill covers the promotion of these bets and the use of personal data.

Political Reactions and Debates

President Lula da Silva described the decision as a tough and necessary measure during a statement in São Paulo. Meanwhile, his opponent Flávio Bolsonaro claimed that this move was politically motivated for the elections.