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[BUSINESS] · Brazil · 22 sources

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Brazil bars 5 million people from online betting platforms FAST-MOVING

Brazil's Ministry of Finance has announced that over 5 million citizens are currently barred from accessing online betting platforms. This figure includes 1.2 million individuals who utilized voluntary self-exclusion tools, 800,000 participants in the Desenrola debt renegotiation program who face a six-month betting ban, and approximately 3 million beneficiaries of social programs such as Bolsa Família and the Continuous Cash Benefit (BPC).

Finance Minister Dario Durigan stated that the government intends to treat online betting similarly to tobacco to discourage gambling. To increase transparency, the Ministry has begun releasing documentation for 80 of the 85 authorized fixed-odds betting companies, including details on the origin of funds and legal standing.

Regulatory actions have also intensified. The license for Pixbet was suspended due to failures in monitoring compulsive players and missing mandatory documentation. Additionally, authorities are investigating illegal operations and potential crimes such as money laundering and asset concealment within the sector.

Entities

Brazil · Brazilian federal government · Central Bank of Brazil · Darío Durigan · Ministry of Finance · PixBet · Secretariat of Prizes and Betting

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