The Ministry of Finance has planned discussions with authorized gambling operators in Brazil to tackle the issue of payment limitations. Under the leadership of President Lula, the Brazilian government has revealed its intention to implement restrictions on payment transactions for sports betting and online gambling, with the new rules taking effect this week.
This initiative is part of a larger strategy to regulate the rapidly expanding gambling industry in the nation. However, the specifics of the measures are still being finalized. Worries about the gambling market have intensified, especially following a Central Bank report indicating that Brazilians are spending around 20 billion Brazilian reals (approximately USD 3.7 billion) monthly on gambling via the Pix payment system.
The government’s plan to block unlicensed betting platforms is set to begin on October 11. Shutting down access to these sites will aid in creating more transparent regulations for online gambling, particularly for participants in government assistance programs. If you found this publication helpful and interesting, we recommend subscribing to our breaking gambling news to receive notifications about the latest updates and stay informed about current events.
