Rico Melquiades announces move to Portugal amid Brazil betting ban

Influencer Rico Melquiades announced on Friday that he intends to leave Brazil to live in Portugal next month. The announcement follows a provisional measure signed by President Luiz Inácio Lula da Silva that prohibits the operation, offering, intermediation, and advertising of online betting platforms, known as ‘bets’, in Brazil.

Melquiades, who has had advertising contracts with betting houses, stated via Instagram that he would no longer be a Brazilian citizen residing in the country. The government's measure establishes a timeline for the cessation of these platforms: betting sites and applications are scheduled to be taken offline starting October 6. Users have until 11:59 PM on October 5 to voluntarily withdraw funds from their accounts, with banks expected to return any remaining balances between October 9 and October 14. The provisional measure still requires processing by the National Congress.