President Luiz Inácio Lula da Silva said this Thursday (17) that if the regulation of sports betting companies does not produce the expected results, the government may ban these services in Brazil.

“We will see if the regulation is enough. If the regulation is enough, the problem is solved. If it is not enough, I will end it. Let me be very clear. You have no control over the poorest people, children with cell phones in their hands placing bets. We do not want that,” he told the Metrópole radio station in Salvador (BA).

 

Since last year, the government has been working on regulations to define the operating parameters of these betting sites, a sector that is rapidly expanding in the country.

A survey by the Central Bank indicates that Brazilians spent around R$20 billion (US$ 3.55bn) per month on online bets in the first eight months of 2024.

The Ministry of Finance created rules to prohibit, for example, the use of credit cards and Bolsa Família cards in registrations.

Regulation is underway, and the government says it will only monitor this “adequacy” of websites point by point from 2025 onwards.

However, more than 2,000 websites have already been blocked because they have not even started the registration and regularization process with the Ministry of Finance.

Source: GMB