Just one day after announcing the elimination of 1,400 jobs and the closure of Sky Bet Malta, Flutter Entertainment has decided to shutter Betfair’s operations in Brazil. This decision follows a recent ban on online betting in the country, leading Flutter to streamline its focus on Betnacional while awaiting clarity regarding the future of market regulations.
In a statement to NEXT.io, Flutter Brazil explained its strategic shift: "After reviewing our commercial strategy, Flutter Brazil has decided to focus its activities on a single brand, Betnacional, which will result in the closure of Betfair’s operations in the country. Once there is clarity on the regulatory landscape, we will direct resources and expertise to the local brand, strengthening our focus on product and simplifying our business model."
The company has also confirmed job cuts across various sectors due to the halt in commercial activities and downturn in revenue, related to Provisional Measure 1,394/2026, which restricts operations. A Flutter Brazil spokesperson expressed regret over the layoffs, stating, "Flutter Brazil recognizes the contribution of the affected professionals and deeply regrets the impact of these decisions on them. The process is being conducted with responsibility, respect, and care for employees, in accordance with applicable labor legislation. We continue to advocate for a regulated and supervised market as the most effective means to protect consumers, combat illegal betting, and promote sustainable sector development."
Following the announcement, employees took to LinkedIn to express their thoughts on the layoffs, which, as reports indicate from October 22, have impacted teams in casino operations, customer service, content creation, and commercial divisions.
This decision comes just days after Flutter placed 1,400 positions in its UK and Ireland operations at risk. The company has also confirmed plans to close Sky Bet’s Maltese subsidiary as part of a broader restructuring effort.
The job reductions stem from a provisional measure enacted by Brazil’s president, Luiz Inácio Lula da Silva, that aims to regulate fixed-odds betting and online casino activities, effectively halting operations for betting operators across the country. Following the signing of this measure, both Betnacional and Betfair Brazil suspended their services, with licenses revoked from licensed betting sites by October 6.
Flutter entered the Brazilian market by acquiring a controlling interest in NSX Group along with a $350 million investment for its initial 56% stake in Betnacional, which included options to increase ownership further. The closure of Betfair Brazil marks a significant shift in Flutter's expansion strategy, with future actions largely dependent on congressional resolutions regarding the provisional betting measure and the potential regulatory framework that could allow for the resumption of operations in Brazil.
