TLDR Brazil’s licensed betting platforms went offline at 6 p.m. on October 6 under Provisional Measure No. 1,394/2026. About R$1.33 billion remained in accounts linked to 26.5 million bettors. Banks will return the money from October 9 to 14, and bettors do not need to file a new request. The government is investigating 48 accounts that each hold more than R$500,000. Industry groups are challenging the ban in Brazil’s Supreme Federal Court.
Brazil’s licensed fixed-odds betting platforms went offline at 6 p.m. on October 6. The shutdown followed the end of a voluntary withdrawal period set by Provisional Measure No. 1,394/2026.
Bettors had until 11:59 p.m. on October 5 to withdraw their balances. About R$1.33 billion was still in accounts linked to 26.5 million taxpayer IDs, known as CPFs, according to the Ministry of Finance.
The government says this money will not be lost. Financial institutions that handled payments for the betting companies will return the funds to users.
Bettors Pulled Out R$775.6 Million
When the measure took effect, users held about R$2.1 billion on the platforms. By October 2, about R$652.6 million had been withdrawn.
By the October 5 deadline, total withdrawals reached about R$775.6 million. That left R$1.33 billion in user accounts.
Most of the remaining accounts held small amounts. More than 96% of accounts with a positive balance had R$25 or less, and more than 92% had less than R$10.
The money was concentrated at the top. About 1% of accounts held roughly 80% of the remaining funds, or about R$1.06 billion.
The government is also watching 48 accounts that each hold more than R$500,000. Finance Minister Dario Durigan said these accounts are under investigation for possibly suspicious transactions. He added that a large balance alone does not mean someone committed a crime.
Industry