A shock for operators. The Brazilian online gambling market is being shut down. Operators have only a few days to close accounts.
With a population of more than 214 million, Brazil is seen as a lucrative market for casinos and bookmakers. Work on regulation in Brazil had been underway for a long time, and operators invested heavily in licences, advertising, and staff.
Now, however, the government has made a complete U‑turn. Last Friday, President Luiz Inácio Lula da Silva published a transitional regulation that nullifies the 2023 rules. And that’s not all – operators have been given a very short deadline.
Customers must clear their gaming accounts by 5 October. From 6 October, apps and websites are to be shut down, and by 14 October at the latest, operators must have paid any outstanding amounts to players’ bank accounts. Licences are no longer valid after 30 days, with no compensation or refund for fees. The transitional rules are set to become permanent law within 120 days.
Despite the new restrictions, Online Poker will remain in Brazil. Poker is considered a “Game of Skill” and therefore not affected by the new legislation.