Brazil tightens crackdown on sports betting

Brazilian President Lula da Silva issued a ban on fixed-odds betting a week before the first round of the presidential elections, aiming to reduce the financial burdens faced by families due to gambling. The decision halts betting operations and prohibits new deposits, while granting users until October 5th to withdraw their funds. It requires approval from Parliament to become permanent. Additionally, the government has drafted a law criminalizing online betting, especially those that use personal data for promotional purposes. Lula emphasized that the measure is necessary to stop the destruction of families caused by the betting industry, which he accused of turning addiction into profit and tearing families apart.

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