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Brazil is moving to ban online gambling and sports betting less than two years after the country began officially regulating the industry.
President Luiz Inácio Lula da Silva signed an order last Friday that prohibits sports betting and online casino gambling. Operators are no longer allowed to accept new deposits, while players have until October 5 to withdraw their remaining funds.
The government says the ban is intended to address concerns about gambling among minors and the impact of betting on Brazilian families. Lula has strongly criticized the industry, describing it as a serious social problem.
The order still needs approval from Brazil's legislature within 120 days to remain in effect. The National Association of Games and Lotteries, an industry trade group, has announced plans to challenge the decision in court and seek compensation for companies that purchased licenses and invested in the Brazilian market.
Brazil has been an important market for online poker, with major operators such as PokerStars having a significant presence in the country. The ban could therefore have a noticeable impact on the country's online poker and gambling industry.
The decision has also drawn criticism from some Brazilian soccer clubs, which have benefited substantially from gambling sponsorships and revenue. Critics argue that banning regulated operators could push more players toward illegal betting sites.
Source:
https://www.cardplayer.com/poker-news/1751599-brazil-bans-online-gambling
President Luiz Inácio Lula da Silva signed an order last Friday that prohibits sports betting and online casino gambling. Operators are no longer allowed to accept new deposits, while players have until October 5 to withdraw their remaining funds.
The government says the ban is intended to address concerns about gambling among minors and the impact of betting on Brazilian families. Lula has strongly criticized the industry, describing it as a serious social problem.
The order still needs approval from Brazil's legislature within 120 days to remain in effect. The National Association of Games and Lotteries, an industry trade group, has announced plans to challenge the decision in court and seek compensation for companies that purchased licenses and invested in the Brazilian market.
Brazil has been an important market for online poker, with major operators such as PokerStars having a significant presence in the country. The ban could therefore have a noticeable impact on the country's online poker and gambling industry.
The decision has also drawn criticism from some Brazilian soccer clubs, which have benefited substantially from gambling sponsorships and revenue. Critics argue that banning regulated operators could push more players toward illegal betting sites.
Source:
https://www.cardplayer.com/poker-news/1751599-brazil-bans-online-gambling
