Lula bans online sports betting days before Brazil election
SAO PAULO: Brazil’s President Luiz Inacio Lula da Silva on Friday banned sports betting sites, the biggest sponsor of the country’s football clubs, just days before a nailbiter election in which he is seeking a fourth term.
Brazil's President Luiz Inacio Lula da Silva banned online sports betting just days before a crucial election, aiming to tackle the industry's rising influence and debt-inducing nature. Finance Minister Dario Durigan announced that deposits into betting sites are now prohibited, reflecting Lula's assertion that the sector is a "cancer."
The ban follows a surge in the gambling market since 2023, with many football clubs' main sponsors being betting companies, and stars like Neymar involved in advertising. The government granted 85 licenses for betting, each valued at 30 million reais (US$5.7 million), which will not be refunded. Lula emphasized the health concerns surrounding gambling, recounting a personal anecdote of a young man who attempted suicide due to his addiction.
However, the ban faces opposition, with soccer clubs warning of potential damage to professional football and youth academies, and industry groups calling for regulatory oversight instead of an outright ban.
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