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دايلي بيروت
Lula suspends fixed betting before elections
President Luiz Inácio Lula da Silva issued an executive order banning fixed-odds betting in Brazil less than two weeks before the presidential elections, aiming to curb the rising debts caused by these bets for families. The decree prohibits the offering, promotion, and advertising of such wagers, as well as banning new financial deposits. It takes effect immediately and will last for 120 days unless Congress approves an extension. Additionally, the government has drafted a bill to criminalize fixed-odds betting practices, including promotion and the use of personal data, in an effort to tighten regulation of the sector. Lula described the measure as necessary, stating it is aimed at combating gambling addiction, which he considers to be disastrous for society, following public criticism of the betting industry for harming families and making profit at the expense of addicts.
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