Brazil has initiated the shutdown of over 2,000 betting websites, including several that sponsor top football clubs like Corinthians, as part of a regulatory overhaul targeting online gambling. This move comes in response to what Finance Minister Fernando Haddad has described as a growing “betting pandemic” across Latin America’s largest economy.
Since the legalization of sports betting sites in 2018, Brazil’s online gambling industry has operated with minimal regulation or taxation. Popular platforms allow Brazilians to wager on sporting events, as well as engage in games like Aviator, a virtual airplane betting game, and online casino options like Fortune Tiger.
In an effort to rein in the sector, President Luiz Inacio Lula da Silva’s administration has introduced a new set of regulations set to take effect in January 2024. These measures aim to combat fraud, prevent money laundering, and protect users, including implementing a ban on betting by minors.
“Any platform not yet regularized, or in the process of becoming so, is being taken offline,” Haddad said in a statement. The finance ministry reported that it has identified 2,040 suspicious domains for the telecoms regulator, Anatel, to block.
Among the sites set for closure is Esportes da Sorte, which sponsors well-known Brazilian football clubs such as Corinthians, Athletico Paranaense, Bahia, and Gremio. The betting platforms on the blacklist will also face advertising bans, including the cessation of sponsorship deals with football teams.
Meanwhile, over 200 sites that have agreed to the new regulations will be allowed to continue their operations under the updated rules. This comprehensive crackdown signals Brazil’s intention to bring structure and oversight to its rapidly growing online gambling sector.
SOURCE: CNN
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