News
Brazil Has Closed Down Over 2000 Betting Sites, Citing A Gambling ‘Pandemic’ In The Country
Brazil’s central bank estimates that 24 million out of Brazil’s 212 million inhabitants, roughly one in nine people, gamble online.
Latin America’s biggest economy is struggling with what Finance Minister Fernando Haddad has called a betting “pandemic,” prompting the government to tighten the screws on the sector.
Since 2018, when Brazil legalized sports betting sites, online gambling has operated in a regulatory free-for-all, subject to virtually no rules or taxes.
President Luiz Inacio Lula da Silva’s government has called time on sites that failed to sign up to new regulations due to take effect in January.
The new rules seek to combat fraud and money laundering and protect users, by for example banning minors from betting.
“Anyone who is not regularized, or in the process of being regularized, is being taken off the air,” Haddad said in a statement.
The finance ministry said it had identified 2,040 “suspicious domains” which it had asked the telecoms regulatory agency Anatel to block.
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