Brazil Bans Online Betting as Flutter Halts Operations

Brazil has banned online betting nationwide, and Flutter Entertainment has already halted operations in the country. The government published Provisional Measure 1,394 on Sept. 25, 2026. It prohibits fixed-odds betting, including sports wagering and online casino games.

Licensed betting sites and apps are due to go offline on Oct. 6. Flutter confirmed the exit on Sept. 28. It estimated the shutdown could cut 2026 revenue by about $70 million and adjusted EBITDA by about $20 million if it lasts through year-end. The measure still needs congressional approval to remain in force.

What Brazil's Online Betting Ban Covers and Key Deadlines

The order bans operating, offering, brokering, and advertising fixed-odds betting in Brazil, both in person and online.

It also applies to foreign-based operators that accept bets from people in Brazil. Covered bets include those on real sporting events and online casino games. State-run and Federal District fixed-odds lotteries fall under the ban as well. Other lottery products authorized by law are not affected.

Licenses issued under Law 14,790 of 2023 expire 30 days after publication, on Oct. 25. Bettors can withdraw funds until 11:59 p.m. Brasília time on Oct. 5. Sites and apps go offline the following day. Banks are then expected to return any remaining balances between Oct. 9 and 14.

Flutter Weighs Appeal as Shutdown Puts $70M Revenue at Risk

In a statement, Flutter said it is complying with the provisional measure but is "extremely disappointed by this development." The company added that it is reviewing all options, including a potential appeal.

Flutter continues to engage with Brazilian authorities on regulatory matters and expects to resume operations in the country if Congress rejects the measure.

If the business stays offline through year-end, Flutter expects 2026 revenue to fall by roughly $70 million and adjusted EBITDA by about $20 million.

The company is also assessing non-cash accounting implications. Its Brazilian unit carried $539 million in goodwill and $127 million in customer relationship intangibles at the end of the second quarter.

Congress Review, Election, and Legal Action Shape What's Next

The provisional measure took effect immediately upon publication. Under Brazilian law, Congress has up to 120 days to approve or amend the measure, or it expires. The first round of the presidential election takes place on Oct. 4, just nine days after the measure was published. President Luiz Inácio Lula da Silva, who is seeking reelection, has tied the ban to household debt and gambling addiction.

An Atlas/Bloomberg poll released Sept. 23 found that 75% of Brazilians support banning betting sites.

📊 PESQUISA ATLAS/BLOOMBERG

1️⃣ Proibição das Bets

🔵 Concordo: 75%
🔴 Discordo: 17%
⚪ Nem concordo, nem discordo: 8%

Mais brasileiros defendem proibir as apostas online: eram 73% em abril, agora são 75%. Quem discorda caiu de 21% para 17%. pic.twitter.com/5OQzvV7sI7

— AtlasIntel BR (@atlaspolitico) September 24, 2026

Opposition figures, however, have questioned the timing and suggested the ban may not outlast the vote. Other operators are weighing their own responses. Allwyn, which holds a 36.75% stake in Betano operator Kaizen Gaming, said Betano is "preparing legal action to protect its rights in Brazil." Betano holds a five-year license issued on Jan. 1, 2025. Market intelligence platform Blask ranks the brand first in Brazil for market share and brand awareness, at around 25%.

The ban comes shortly after Flutter moved to end its London listing. Now, the company could lose a Brazilian business it acquired in 2025. Flutter said it will provide further updates in due course.