Brazil's President Luiz Inácio Lula da Silva firmly stated that the country will not revert to allowing betting, emphasizing the need to "end this plague" just days before the presidential runoff scheduled for October 25. Lula shared his sentiments during a livestreamed discussion with federal deputy André Janones and personal-finance expert Nath Finanças.
He cited conversations with young individuals burdened by gambling, with debts ranging from R$ 4,000 to R$ 24,000. Lula also highlighted distressing accounts of individuals who took their own lives after suffering financial losses due to gambling.
This statement comes amidst reports that betting operators might resume their services on October 26. Lula indicated that if he is re-elected, he plans to establish a secretariat focused on popular finance, proposing Nath Finanças as a candidate for the position.
On the same day, a Datafolha poll showed Lula and Flávio Bolsonaro neck-and-neck, each securing 50% of valid votes. While there are rumors that gambling may return if Bolsonaro wins, these claims are based on anonymous sources and remain unverified.
For the betting sector to re-establish itself legally, a court ruling or new government initiative is required. Supreme Federal Court Justice Luiz Fux, overseeing challenges to the current betting ban, had yet to issue a ruling as of October 23. Additionally, solidifying the ban necessitates congressional approval. As of October 21, no committee has been formed to review the legislation, which includes 94 amendments currently under consideration.
The legislation is set to enter an urgent review process on November 9, and discussions must conclude by November 23. Reports recently revealed that Brazil's Receita Federal had collected R$11.12 billion (approximately $2.21 billion) in taxes from gambling and betting as of September 2026, surpassing the total R$9.95 billion collected throughout 2025. These figures encompass all gambling and betting revenues, not limited solely to fixed-odds betting.
