Brazil ukida licencirano online kockanje uoči izbora 2026. godine

On September 25th 2026, Brazilian President Luiz Inácio Lula da Silva signed Provisional Measure (MP) No. 1,394/2026, banning sports betting and online casinos in the country. This measure takes effect a week before the first round of voting in the country’s general elections, scheduled for October 4th 2026.

Websites are scheduled to go offline on October 6th, with Congress choosing to push the issue back until after the first round of voting. Meanwhile, operators have already organised to go to court while bracing for the ban’s financial impact.

Industry Looks to Supreme Court

On Friday night, after the Provisional Measure was signed, around 180 industry representatives met to align their strategy moving forward. Thomas Carvalhaes, CEO of TC iGaming Advisors, says he took part in the Friday meeting and confirmed a legal defence is already being prepared.

According to the President of the National Association of Games and Lotteries (ANJL), Plinio Lemos Jorge, the chance of collective action before the Federal Supreme Court (STF) is quite high. The filing is expected by Tuesday, September 29th, with companies intending to challenge the data the government used to justify the ban.

The government seems prepared for the upcoming legal conflict. Speaking to CNN Brazil, Head of the Office of the Attorney General Jorge Messias said that the office was completely at ease and that every aspect of the Provisional Measure was rigorously validated.

Finances Take a Hit

Monday brought the expected market reactions, with several companies seeing their shares drop. European exchanges were closed when the Provisional Measure was signed, and with it containing a refund of the license fee each operator paid, the reaction was more muted than it might have been initially.

Better Collective was hit hardest, with its shares plunging 25%, as Brazil was one of its major emerging markets. Other companies saw smaller drops. Evolution’s shares fell 4.4%, while Entain’s shares saw a drop between 1.7% and 3.3%. Entain, which owns Ladbrokes, expressed disappointment with the Provisional Measure, though it still expects 4%-6% annual net revenue growth even if the ban is maintained.

Flutter Entertainment also responded to the Provisional Measure, saying it expects reduced revenue of around $70 million if it can’t operate in Brazil for the remainder of the year. The company confirmed it is reviewing all available options, including an appeal.

Ricardo Bianco Rosada, CEO of brmkt.co, says the measure’s biggest impact won’t be on tax revenue or the fiscal debate, but on a new risk premium attached to Brazil. He points out that Brazil sold five-year licenses and local compliance, only to pull it all away before the first year was up. He adds that even if the Provisional Measure fails, investors will remain wary because of the lack of legal certainty.

The Impact of Looming Elections

With polls close between current Brazilian president Lula and main runner-up Senator Flávio Bolsonaro, the measure was clearly taken to win political points. Hours before signing the Provisional Measure, Lula held up a sign reading “end of the bets” at a campaign rally in Recife.

Senator Bolsonaro, son of former president Jair Bolsonaro, called the measure “hypocritical, electioneering and populist.” However, since Bolsonaro has already come out against online casinos, the opposition is unlikely to fight to return the market to its previous state.