Better Collective withdraws forecasts following Brazil betting ban

Better Collective has withdrawn its financial forecasts for 2026–2028 and temporarily suspended its share buyback program following significant regulatory developments in Brazil. The company adjusted its 2026 organic revenue growth forecast to 3–8 percent, down from the previous 7–12 percent, and expects EBITDA growth before one-off items to range between minus 7 and plus 3 percent.

The decision follows a provisional measure introduced by the Brazilian government on September 25, which implements a nationwide ban on the operation, offering, mediation, and marketing of fixed-odds betting, including sports betting and online gaming. The measure requires licensed platforms to shut down after a ten-day transition period.

The ban is currently subject to review by the Brazilian Congress, which may approve, amend, reject, or allow the measure to expire. The legislative process is expected to conclude within a 60-day period, which may be extended once. The outcome will determine whether the Brazilian betting market remains prohibited, returns to its previous regulatory framework, or transitions to a new structure.