How an Operator Shuts Down in Brazil: What Happens in the Market’s Final Weeks
On September 25, 2026, Brazilian President Lula signed Medida Provisória 1.394/2026, and the licensed fixed-odds betting market, which had opened in January 2025, was given 30 days to shut down. The websites went offline on October 6; banks returned the remaining balances in players’ accounts between October 9 and 14; and on October 25 – the day of the second round of the election – the operators’ licenses expired. We’ll break down the documents to explain exactly what operators are required to do, by when, how much it costs, and what has already happened.
Key Takeaways
- Timeline. Deposits are banned from September 25; withdrawals are allowed until 11:59 p.m. on October 5; websites and apps go offline on October 6; CPF balance lists go to banks and the SPA within two days; refunds go through banks between October 9 and 14, then through Caixa; authorizations expire on October 25; the tail of obligations runs until December 15, 2026; data must be kept for at least five years [1, 2, 5];
- Money. The license fee (R$30 million for up to three brands) is non-refundable, and no compensation is provided [1, 26, 30]. As of October 5, approximately R$1.33 billion remained in the accounts of 26.5 million players [10, 22]. The fine for missing the Article 8 deadlines is R$200,000 per day [1]. Flutter estimated a loss of $70 million in revenue for 2026 [8];
- People and Contracts. As of October 7, more than 3,500 people had been laid off, and 4,167 were on collective leave [17]. Fourteen of the 20 Série A clubs had a bookmaker as their title sponsor [19]. As of October 21, Congress had not established a commission on the MP, and the rapporteur Luiz Fux did not make a decision until the second round [23, 26].
What MP 1.394 Says: Operator Obligations by Article
MP 1.394 entered into force on the day of publication, September 25, 2026 (Article 30). Article 1 prohibits the operation, offering, intermediation, and advertising of fixed-odds betting – sports and online games – including foreign operators serving people in Brazil. Article 2 extends the ban to authorizations issued by the states and the Federal District; other lotteries are not affected [1].
Articles 4–11 are the key ones for a licensed operator. Article 4: authorizations expire 30 days after publication, and this “does not entitle the operator to a refund, full or partial, of the concession fee”; there is no compensation. Article 7: from the publication date, new funds may not flow into transaction accounts; after ten days, websites and apps must become unavailable, including in app stores; pending bets are voided with a full refund, and calculated winnings are paid out. Article 8 gives two days to segregate funds and pass data on each player to the banks and the SPA; the fine for failure is R$200,000 per day. Article 9 gives banks seven days to make refunds; the remainder goes to a separate account at Caixa Econômica Federal [1].
Article 10 preserves tax, AML, and responsible-gaming obligations and requires data, documents, and records to be kept for at least five years; Article 11 requires continued data transmission to Sigap. Article 13 suspends pending administrative proceedings and archives them if the operator met the transition deadlines [1].
Advertising and platforms are a separate block. Article 16 gives ten days to remove advertising and sponsorship materials; Article 18 classifies violations as “publicidade abusiva” under the Consumer Protection Code. Articles 19–23: internet platforms must block prohibited advertising, app stores must remove prohibited products, and the Ministry of Finance and the Ministry of Justice order domain blocking through Anatel and CGI.br; platforms face fines of up to 10% of the group’s revenue in Brazil, capped at R$50 million per violation. Article 29 repeals Chapter V of Law 13.756/2018 and most of Law 14.790/2023, preserving them for operators’ past conduct [1].
Closing Schedule: Eight Deadlines in 80 Days
The government has compiled the MP articles into a calendar on the SPA/MF website and on brasilsembets.gov.br, where domains belonging to closed operators are redirected [2, 7]; Portaria SPA/MF 3.005/2026, dated October 2, added reporting requirements and a deadline.
| Date | What the operator is required to do | Legal basis |
|---|---|---|
| September 25, 2026 | Stop accepting new funds into transaction accounts; remove advertisements and sponsored content within 10 days | MP, Art. 7, §1, Art. 16 [1] |
| By 11:59 p.m. on October 5, 2026 | Keep the website available for withdrawals; cancel pending bets with a full refund; pay out calculated winnings | MP, Art. 7 [1, 2] |
| October 6, 2026 | Make websites and apps inaccessible, including app stores | MP, Art. 7; SPA/MF [1, 2] |
| October 6–7, 2026 | Segregate funds; give banks a list of balances by CPF and the account of origin; by October 7 – final balances in Sigap (cut-off 11:59 p.m. on October 5) | MP, Art. 8; Portaria 3.005 [1, 5] |
| October 9–14, 2026 | Banks return the balances to the player’s active account; the operator is responsible for any discrepancies | MP, Art. 9 [1, 2, 21] |
| From October 14–15, 2026 | Amounts not returned go to a separate Caixa account; Caixa pays them out to the players | MP, Art. 9; SPA/MF [1, 2, 7] |
| October 25, 2026 | Authorizations terminate (30 days after publication); no refund of the concession fee and no compensation | MP, Art. 4 [1] |
| Through December 15, 2026 | Close financial and regulatory obligations; maintain a legal representative; report any changes within 48 hours | Portaria 3.005 [5, 29] |
| Indefinite / 5 years | Retain data, documents, and records for at least five years; submit data to Sigap; answer for obligations from the period of operation | MP, Arts. 10–11 [1] |
Table 1. Closure timeline for a licensed operator. Sources: 1, 2, 5, 7, 21, 29.
The Portaria was signed by SPA Secretary Daniele Correa Cardoso [29]. The data sent to Sigap include final balances in player and transaction accounts, brands, banks, CPFs and dates of birth, amounts to be refunded and payment details, and the date the data were passed to the banks. The company appoints a legal representative until all obligations are fully settled and notifies of any change in representative, address, or email within 48 hours. Completing this procedure does not prevent the SPA from filing claims at a later date [5].
Players’ Money: How Much Was Left and How It Was Returned
By the evening of October 5, about R$1.33 billion was left in player accounts. Since September 26, players had withdrawn R$775.6 million themselves, and the number of CPFs with a positive balance fell from 28.9 million to 26.54 million. Finance Minister Dario Durigan estimated that about R$600 million a day had stopped flowing into operators’ accounts [10]. On October 6, the government gave a similar figure: R$1.325 billion awaiting refund to 26.5 million players [22].
How refunds work: within two days of shutdown, the operator passes the banks a list – CPF, amount, account of origin. The bank refunds to an active account in the player’s name, preferably the one the deposits came from, and reports to the SPA. Whatever could not be returned – closed accounts, data mismatches – goes to Caixa, which acts as an intermediary, not an owner of the funds [2, 7, 21]. Tiago do Amaral Santos of Barcellos Tucunduva stresses that the operator is liable for unreturned amounts and discrepancies; the bank does not assume its debt [21].
Payments and Pix: Reject, Don’t Refund
Article 14 prohibits banks and payment institutions from conducting betting transactions, except for refunds and liquidation transactions; Article 15 delegates the rules to the Central Bank [1]. BCB Resolution 590/2026 mandated that prohibited transactions be blocked immediately, and the Central Bank instructed Pix (SPI) participants to reject transfers to operators’ accounts prior to crediting, rather than accepting and then refunding them. According to Amaral Santos, “the obligation is already enforceable and does not depend on the completion of all technological regulations” [21].
Supervisory functions have been consolidated into a single body. Decree No. 13.128, dated September 28, established an Interministerial Committee under the Office of the Chief of Staff (Casa Civil), comprising the SPA and the Federal Revenue Service (Receita Federal), three secretariats of the Ministry of Justice, the Central Bank, COAF, the Federal Police, Anatel, ANPD, AGU, and the Ministry of Sports. The committee maintains a unified registry of domains, applications, and bank accounts and drafts protocols to block websites, suspend payments, and remove advertisements [6].
A License for R$30 Million, Five Years of Data, and an Obligations Tail Until December 15
A federal license cost up to R$30 million for three brands and was valid for 5 years from the date of issuance [14, 26, 30]. Article 4 rules out any refund, full or partial, and any compensation [1]. By NEXT.io’s count, the ban closed 85 operators; AMIG counts by brand – 188 [18, 26]. The Senate estimated forgone supervision fees at R$38.4 million for September–December 2026 and R$115.2 million per year in 2027–2028 [3].
On October 25, in Amaral Santos’s words, “an important change in legal status” occurs: the authorization ends, the company does not, and offering bets after that date is an illegal operation. At the same time, “the end of the authorization does not extinguish liabilities and obligations incurred during operation”; some Portaria 3.005 deadlines run through December 15 [22].
Daniel Law advises reviewing contracts for sponsorship, advertising, influencers, technology and payments – termination, force majeure and change-of-regulation clauses – and checking trademarks: INPI takes the legality of the activity into account, pending applications may suffer, and registered marks are not automatically annulled [31].
What the Operators Did
The public picture of the closure is based on securities filings, company statements, and court rulings. See the table for a comparison.
| Operator | Public actions and dates | Source |
|---|---|---|
| Flutter (Betnacional, Betfair) | September 28 – Form 8-K: halted betting and iGaming operations; losses for 2026 –approximately $70 million in revenue and $20 million in adjusted EBITDA; Flutter Brazil’s book value as of Q2 2026: $539 million in goodwill, $127 million in customer base, $124 million in brands, and $31 million in software; “is considering all options, including an appeal.” October 23 – Closing Betfair; resources to be redirected to Betnacional; number of layoffs not disclosed | 8, 9 |
| Kaizen Gaming (Betano) | Offline as of October 6, with a notice regarding MP 1.394 on the website. October 11 – Flamengo and Fluminense took the field for their derby wearing jerseys that read “Proibir não é proteger”; October 15 – statement: jobs in Brazil are guaranteed pending Congress’s decision; the measure is “not final” | 10, 11 |
| Superbet | October 5 at 6:00 p.m. stopped accepting bets; the logo was removed from São Paulo’s uniforms as of October 6. The contract, which runs through 2030 (R$105–140 million per year), allows for a suspension of up to 90 days and termination without penalty in the event of a permanent ban. | 12 |
| Stake | October 8 – The 9th Federal Civil Court of São Paulo (Judge Cristiane Farias Rodrigues dos Santos) authorized operations through October 25 under 12 conditions: no new promotions, guaranteed payouts, and retention of records; it did not authorize operations through the end of the license term on December 31, 2029. October 9 – TRF-3 President Luis Antonio Johonsom di Salvo suspended the ruling on the AGU’s appeal (“regulatory asymmetry”). Offline as of October 10; Bichara e Motta promises to appeal | 14, 15, 16 |
| KTO | Around October 8, the company laid off more than 200 employees (according to posts on LinkedIn; the company has not confirmed this); the website redirects to brasilsembets.gov.br. CEO Andreas Bardun: The license is valid until October 25; obligations are being met; part of the team is staying on. | 13 |
| Entain (Sportingbet) | The domain redirects to a government website. CEO Stella David, on the Q3 call in mid-October: “The market will reopen in one form or another”; sports account for about 70% of Sportingbet’s business | 10, 26 |
| bet365 | No specific announcement regarding the closure was found. Brand searches in Brazil from October 6–10 fell by 81% compared to September (Blask) | 28 |
Table 2. Operators’ public actions after MP 1.394. Sources: 8–16, 26, 28.
The common thread: practically all licensees complied. ANJL representative Leonardo Benítez promised as early as September 30 that “there will be no disobedience” [24]. The only attempt to remain online through legal action – by Stake – lasted just one day [15].
People, Sponsors, Affiliates
According to a preliminary ANJL survey as of October 7, operators laid off more than 3,500 people – 23% of the workforce at the responding companies – and placed 4,167 on collective leave; the forecast is for up to 5,600 layoffs over 90 days, representing 37% of direct jobs out of a total workforce of about 15,000 [17]. According to AMIG, at least 36 of 188 brands carried out layoffs: H2Bet laid off 170 of its 270 employees, Rivalo laid off nearly its entire team of about 100 people, and Rei do Pitaco laid off 40. Betano and Superbet were retaining their staff at that time [18].
Sponsorship is the second front. Before the ban, bookmakers were the title sponsors of 14 out of 20 Série A clubs: Flamengo – Betano, R$268.5 million per year; Corinthians – Esportes da Sorte, R$150 million; São Paulo – Superbet, R$113 million; Palmeiras – Sportingbet, R$100 million. Flamengo President Luís Eduardo Baptista estimated soccer’s losses at approximately R$2.5 billion [19]. Article 16 allows ten days to remove sponsorship materials; contracts such as the one between Superbet and São Paulo contain provisions for suspension and termination without penalty in the event of a permanent ban [1, 12].
For affiliates, the ban is broader. Article 16 covers “communication, advertising, promotions, marketing, and sponsorship” directed at people in Brazil, regardless of format or payment method: reviews with live links, bonus code pages, videos, and tipsters. The exception under Article 17 applies only to older content where betting is mentioned in passing [1, 32]. Traffic to 22 Brazilian affiliate sites dropped by 45% during the first week offline [28].
Domains Blocked: 5,209 – and Where the Players Went
As of September 29, the Ministry of Justice and the Ministry of Finance had submitted 5,209 domains for blocking (3,823 were identified by the SPA, and 1,386 by the Ministry of Justice’s Secretariat for Digital Rights); Anatel issued orders for 2,387 of them. 300 Facebook pages and 90 Instagram profiles were removed, and Apple and Google were notified to remove 186 apps by October 6 [20, 32]. As of October 12, Legitbet had identified 30,844 active illegal websites [26].
Players haven’t completely switched to illegal sites – for now, they’ve simply stopped playing. According to Blask, brand-specific searches for licensed operators fell by 84% from October 6–10, while offshore brands recovered only about one-fifth of the demand. During the week of October 6–12, 27% of former legal players were active, compared to the usual 47%; 9.7% visited illegal sites, compared to 6%. One brand – 1win – accounted for about 95% of the increase in offshore searches [28].
Congress and the STF: What Could Bring the Market Back
The MP is in effect for 60 days, with a possible extension for another 60: the initial term expires on November 23, and from November 9, the measure locks the Chamber’s agenda. The joint committee must comprise 13 members of the Chamber of Deputies and 13 senators, with an equal number of alternate members, and as of October 21, 2026, it had not been installed – its status is “Aguardando Instalação”; 99 amendments have been submitted (5 withdrawn, 94 pending), the most common of which seek to limit the ban on online casinos and preserve sports betting [23]. Since the recess halts the clock, the ANJL allows that the measure could remain in effect until March 4, 2027 [11].
Three actions are pending before the STF: ADI 8027 filed by ANJL and IBJR (September 28), ADI 8024 filed by Anseja, and ADI 8028 filed by the Association of Mayors; the reporting judge is Luiz Fux [24, 26]. On October 5, the AGU, led by Jorge Messias, asked the court to reject the suspension: requests for treatment for gambling addiction through the SUS increased by 140% between 2018 and 2025, and betting took R$62.5 billion from family budgets in 2025 [25]. Fux did not rule before the second round [26].
Lula won the second round on October 25 with 51.79% of the vote, compared to 48.21% for Flávio Bolsonaro, who had promised to maintain sports betting [27]. A few days before the election, the president stated: “Bets will not return” [26]. The government will defend the MP in Congress, but according to NEXT.io, Congress — which passed Law 14.790 in 2023 – is less inclined to shut down the market entirely [27].
What This Means
To operators. Closing is an 80-day project with eight deadlines, not a single release. The costliest mistakes are in Articles 8–9: a mismatch in CPF lists costs R$200,000 per day, and the debt to the player does not pass to the bank. After October 25, the company lives without a license, but with Sigap, five-year data retention, and a legal representative. Flutter showed how to disclose: the loss for the year, the book value of assets, and the options for appeal [1, 5, 8, 21].
To payment service providers. BCB Resolution 590 requires transfers to be rejected before crediting; the only exceptions are refunds and settlement transactions under Article 14. The Interministerial Committee maintains a unified registry of accounts, so “gray” rails under old CNPJs are a direct risk for PSPs [1, 6, 21].
To affiliates. Article 16 does not distinguish between paid and free content: a page with a bonus code and a live link is already a violation. Traffic to affiliate sites fell 45% in a week, and brand demand fell 84%. Until Congress votes (November 23, or with the extension, January–March 2027), the working scenario is to mothball Brazilian pages rather than redirect them to offshore brands [1, 23, 28, 32].
Methodology
As of November 4, 2026. Norms are taken from the text of MP 1.394/2026 on the Planalto site and SPA/MF explanations; Portaria SPA/MF 3.005/2026 is taken from Agência Gov and Focus Gaming News, and its publication in the Diário Oficial will be verified before release. All amounts are in reais; dollar estimates are Flutter’s. The number of licensees depends on the method: NEXT.io counts operators (85), AMIG counts brands (188). Layoff data come from a preliminary ANJL survey, and ANJL is a party to the dispute; player-migration data come from Blask’s desktop panel and therefore represent a lower bound.
Sources
- Planalto, “Medida Provisória nº 1.394, de 25 de setembro de 2026” — Articles 1–30: ban, 30-day period, 10 days, 2 days, 7 days, R$200,000 per day, 5 years, 10% / R$50 million. https://www.planalto.gov.br/ccivil_03/_ato2023-2026/2026/Mpv/mpv1394.htm
- Ministério da Fazenda / SPA, “Medida Provisória nº 1.394/2026: entenda as novas regras para as apostas de quota fixa”, October 2, 2026 (updated October 7) — timeline from September 25 to October 15, Caixa. https://www.gov.br/fazenda/pt-br/composicao/orgaos/secretaria-de-premios-e-apostas/medida-provisoria-ndeg-1-394-2026-entenda-as-novas-regras-para-as-apostas-de-quota-fixa
- Agência Senado, “MP proíbe bets e determina encerramento das operações em 30 dias”, September 28, 2026 — forgone supervision fees of R$38.4 million and R$115.2 million, penalties. https://www12.senado.leg.br/noticias/materias/2026/09/28/mp-proibe-bets-e-determina-encerramento-das-operacoes-em-30-dias
- Câmara dos Deputados, “Medida provisória proíbe o funcionamento de bets no Brasil”, September 2026 — timeline, 120 days, interministerial committee. https://www.camara.leg.br/noticias/1306939-medida-provisoria-proibe-o-funcionamento-de-bets-no-brasil
- Agência Gov, “Bets têm até dia 7 para informar saldo devido a quem não houver feito retirada”, October 5, 2026 — Portaria SPA/MF 3.005/2026, Sigap, 48 hours, December 15, 2026. https://agenciagov.ebc.com.br/noticias/202610/secretaria-de-premios-e-apostas-regulamenta-obrigacoes-das-empresas-apos-proibicao-das-bets
- Planalto, “Decreto nº 13.128, de 28 de setembro de 2026” — composition and powers of the Interministerial Committee. https://www.planalto.gov.br/ccivil_03/_ato2023-2026/2026/decreto/D13128.htm
- Governo Federal, “Brasil sem Bets — Acesso bloqueado” — dates: October 5, October 9–14; Caixa from October 14. https://www.brasilsembets.gov.br/
- SEC, Flutter Entertainment plc, Form 8-K, Exhibit 99.1, “Response to Brazil gambling ban”, September 28, 2026 — $70 million, $20 million, $539/$127/$124/$31 million, appeal. https://www.sec.gov/Archives/edgar/data/0001635327/000119312526403357/d484581dex991.htm
- iGaming Express, “Flutter Closes Betfair Operations in Brazil”, October 23, 2026. https://igamingexpress.com/flutter-closes-betfair-operations-brazil/
- iGaming Express, “Brazilian Betting Sites Go Offline”, October 6, 2026 — R$1.33 billion, R$775.6 million, CPF numbers falling from 28.9 million to 26.54 million, R$600 million per day, redirects. https://igamingexpress.com/brazilian-betting-sites-go-offline/
- iGaming Express, “Betano Owner Guarantees Brazil Jobs Until Congress Rules on the Betting Ban”, October 15, 2026 — Kaizen statement, October 11 derby, March 4, 2027. https://igamingexpress.com/betano-owner-guarantees-brazil-jobs-until-congress-rules-on-the-betting-ban/
- OneFootball, “It’s over: Superbet exits Brazil, São Paulo officially lose main sponsor”, October 6, 2026 — 18:00 on October 5, contract until 2030. https://onefootball.com/en/news/its-over-superbet-exits-brazil-sao-paulo-officially-lose-main-sponsor-43568700
- NEXT.io, “KTO to close down after Brazil betting ban”, October 12, 2026 — over 200 employees, redirect, quotes from A. Bardun. https://next.io/news/regulation/kto-ceases-trading-in-brazil-after-betting-ban/
- Yogonet, “Stake wins temporary court relief to continue Brazil betting operations”, October 9, 2026 — judge, court, license valid until December 31, 2029. https://www.yogonet.com/international/news/2026/10/09/126790-stake-wins-temporary-court-relief-to-continue-brazil-betting-operations
- NEXT.io, “Brazil appeals court suspends Stake’s injunction after just one day”, October 12, 2026 — TRF-3, Di Salvo, offline since October 10, quote from U. Zekelman. https://next.io/news/regulation/brazil-appeals-court-suspends-stakes-injunction/
- CasinoBeats, “Stake’s Brazil Return Comes With 12 Court-Ordered Conditions”, October 10, 2026 — 12 conditions. https://casinobeats.com/2026/10/10/stake-brazil-injunction/
- Poder360, “Fim das bets causa 3.500 demissões diretas, diz associação”, October 7, 2026 — 3,500, 23%, 4,167, 5,600, 37%. https://www.poder360.com.br/poder-economia/fim-das-bets-causa-3-500-demissoes-diretas-diz-associacao/
- Economic News Brasil, “Onda de demissões já atingem 1 em cada 5 marcas de bets autorizadas após proibição”, October 7, 2026 — 36 out of 188, H2Bet, Rivalo, Rei do Pitaco. https://economicnewsbrasil.com.br/2026/10/07/demissoes-nas-bets/
- CNN Brasil, “Proibição das bets: confira os valores de patrocínios dos clubes afetados”, September 25, 2026 — 14 out of 20 clubs, R$268.5 million, R$2.5 billion. https://www.cnnbrasil.com.br/esportes/futebol/proibicao-das-bets-confira-os-valores-de-patrocinios-dos-clubes-afetados/
- G3 Newswire, “Brazil seeks blocking of 5,209 betting domains after nationwide ban”, October 1, 2026 — 5,209, 3,823, 1,386, 2,387, 300, 90, 186. https://g3newswire.com/brazil-seeks-blocking-of-5209-betting-domains-after-nationwide-ban/
- Guaíra News, “Proibição das apostas de quota fixa e o Pix”, October 1, 2026 — Resolução BCB 590, rejection before funds are credited, quotes from T. do Amaral Santos. https://www.guairanews.com/2026/10/01/proibicao-apostas-quota-fixa-pix/
- Migalhas, “Advogado analisa restituições e extinção das bets até fim de outubro”, October 13, 2026 — R$1.325 billion, 26.5 million, status change on October 25. https://www.migalhas.com.br/quentes/466383/advogado-analisa-restituicoes-e-extincao-das-bets-ate-fim-de-outubro
- Focus Gaming News, “MP das Bets se aproxima de um mês sem comissão instalada”, October 21, 2026 — “Aguardando Instalação”, November 9, November 23, 94/99 amendments. https://focusgn.com/brasil/mp-bets-comissao-congresso
- NEXT.io, “How likely is a suspension of Brazil’s betting ban in Supreme Court?”, September 30, 2026 — ADI 8027, 8024, quotes from L. Benítez. https://next.io/news/regulation/brazil-betting-ban-in-court-how-likely-suspension/
- Exame, “AGU pede a Fux que rejeite suspensão da MP que proíbe bets”, October 6, 2026 — J. Messias, +140% SUS, R$62.5 billion. https://exame.com/brasil/agu-pede-a-fux-que-rejeite-suspensao-da-mp-que-proibe-bets/
- NEXT.io, “Brazil betting ban: Election polls tied as licences expire”, October 23, 2026 — 85 operators, R$30 million, 30,844 websites, ADI 8028, S. David, “bets não voltarão”. https://next.io/news/regulation/lula-or-bolsonaro-brazils-betting-industry-prepares-for-judgement-day/
- Carter Center, “A Missão de Especialistas Eleitorais do Carter Center Cumprimenta a Eleição Democrática de Segundo Turno Presidencial Brasileiro” — 51.79% / 48.21%. https://www.cartercenter.org/news/a-missao-de-especialistas-eleitorais-do-carter-center-cumprimenta-a-eleicao-democratica-de-segundo-turno-presidencial-brasileiro/
- SportsBoom, “Where have Brazil’s bettors gone three weeks into the ban?”, October 21, 2026 — Blask data: −84%, 27% vs 47%, 9.7% vs 6%, −45%, bet365 −81%, 1win. https://www.sportsboom.com/betting/where-have-brazils-bettors-gone-three-weeks-into-the-ban/
- Focus Gaming News, “SPA estabelece prazo para encerramento das bets”, October 6, 2026 — 15 December 2026, signed by D. C. Cardoso. https://focusgn.com/brasil/ministerio-da-fazenda-estabelece-15-de-dezembro-como-data-final-para-o-encerramento-das-atividades-das-bets
- Marinho de Gusmão Advogados, “Brazil Betting Ban: PM 1394/2026 and Operators”, September 28, 2026 — R$30 million for three brands, five years, Sigap, representative. https://www.marinhodegusmao.com.br/en/publicacoes/provisional-measure-1394-2026-betting-ban-authorized-operators
- Daniel Law, “Medida Provisória proíbe apostas de quota fixa no Brasil: o que as empresas precisam saber”, October 1, 2026 — contracts, INPI. https://www.daniel.com.br/pt/client-alert/medida-provisoria-proibe-apostas-de-quota-fixa-no-brasil-o-que-as-empresas-precisam-saber/
- Affiverse, “Brazil Blocks 5,209 Betting Sites Under New Ban”, September 30, 2026 — Article 16 on affiliate content, 186 apps, approximately 1,960 Google ads. https://www.affiversemedia.com/brazil-betting-ban-affiliate-advertising/
- iGaming Business, “Luiz Felipe Maia: The ban on betting creates distrust towards Brazil”, October 2026. https://igamingbusiness.com/legal-compliance/regulation/luiz-felipe-maia-ban-betting-distrust-towards-brazil/
- Focus Gaming News, “Vera Chemin, advogada: ‘Há uma grande possibilidade do STF suspender a MP das bets’”, October 12, 2026. https://focusgn.com/brasil/vera-chemin-advogada-ha-uma-grande-possibilidade-de-o-stf-suspender-a-mp-das-bets
Disclaimer: This material is based on publicly available documents and publications and does not constitute legal advice. Decisions regarding closure procedures, refunds, and appeals are made in consultation with Brazilian attorneys based on the text of MP 1.394/2026, Portaria SPA/MF 3.005/2026, and Central Bank regulations.
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