HeadlinesBriefing favicon HeadlinesBriefing.com

Brazil’s Lula Plans Online Betting Ban, Debt Relief Steps Ahead of Election

Bloomberg Markets •
×

Lula to Ban Online Betting, Offer Debt Relief Before Election Martha Beck President Luiz Inácio Lula da Silva will sign two provisional measures on Friday, one banning online betting and another aimed at renegotiating individual debts, according to two people with knowledge of the matter. The incumbent’s actions seek to address growing concerns over household indebtedness less than two weeks before Brazil’s neck-and-neck presidential election. Lula has repeatedly threatened to ban online betting, arguing that gambling has worsened the financial strain facing families.

A new Datafolha survey released Thursday showed leftist Lula and right-wing rival Flávio Bolsonaro deadlocked in the presidential contest. The poll showed Lula with 47% support compared to Bolsonaro’s 45% in a runoff scenario, within the margin of error. In recent weeks, Lula has intensified his criticism of the gambling industry, arguing he’d prefer to eliminate online betting altogether.

His government has already barred recipients of major social welfare programs from betting while also placing restrictions on individuals enrolled in debt renegotiation programs.