Learn about Lula's next steps in the package to ban betting sites in Brazil
The provisional measure took effect immediately, but needs Congress's approval to avoid expiring
TL;DR
- A provisional measure to ban online betting sites in Brazil is now in effect.
- The measure requires approval from the National Congress within 120 days.
- A timeline is established for halting new deposits, voluntary withdrawals, and site closures.
- Financial institutions will be responsible for returning remaining funds to bettors.
- Caixa Econômica Federal will handle reimbursements if companies fail to do so.
- A separate bill is being sent to Congress to criminalize fixed-odds betting offenses, with potential penalties of two to six years imprisonment and fines.