Brazilian bettors must withdraw money from betting sites by 11:59 PM before lockout
Betting sites and apps will be blocked at midnight on Tuesday (6); unwithdrawn funds will be returned by banks. Read on Gazeta do Povo.
TL;DR
- Brazilian bettors have until 11:59 PM on Monday (5th) to withdraw money from authorized betting sites.
- From Tuesday (6th) at midnight, these sites and apps will be blocked and cease to function.
- Funds not withdrawn by the deadline will be fully returned by banks between October 9th and 14th.
- The blocking will be executed with the support of app stores, internet providers, and the CGI.br.
- This measure is part of a government initiative to combat family indebtedness.
- Bets were legalized in Brazil in 2018 but regulation only began advancing in 2023.
- Licensed betting operators are contesting the decision in the Supreme Court, citing legal insecurity and significant investments made.
- The operators argue the sudden change disregards commitments made during the regulatory framework's implementation.