brazil pulled the plug. sites go dark on the 6th

Luciana.29

Luciana.29

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well my apps still work but is finish already. the sites go off on 6 october. i have money in two accounts and one of them owes me a withdraw from tuesday that was already slow before all this. they say banks must return the money of bettors but nobody say how or when. the news say the central bank will make a system. make a system when? i have nine days

sorry for poor english. i am soooo mad
 
onlky imagine what just got destroyed - 85 licences were issued under the 2023 law, each one cost thirty million reais, so operators paid about 2.55 billion reais to get in. and that whole framework is extinguished 30 days from publication. licences those companies bought last year are now worth nothing. market was estimated around four billion dollars a year. its been a legal regulated market since january 2025. like 20 months
 
and? the timing is cynical and the problem is still real!! in brazil people were borrowing to bet. that is not moral panic that is a documented thing. their own finance minister called it a public health issue
of course im sorry for @Luciana.29 and i mean that. but i am not going to pretend a government acting on something is worse than a government not acting because the date is inconvenient
 
Mouche12 said:
and? the timing is cynical and the problem is still real!! in brazil people were borrowing to bet. that is not moral panic that is a documented thing. their own finance minister called it a public health issue
of course im sorry for @Luciana.29 and i mean that. but i am not going to pretend a government acting on something is worse than a government not acting because the date is inconvenient
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if it was about the problem it would have been march
 
im from recife and im going to say the unpopular thing here - my cousin lost his car in eight months on those apps. eight months. the pix deposit is instant and the minimum is one real and there is no friction anywhere in it, thats not an accident thats the product
i lose access thursday same as everybody. but i am still glad
 
i know three people like your cousin and i still want my money back. both of these is true at same time and it feels like everoyne here keep making me pick one
 
@Mouche12 i dont disagree with you about the borrowing. is very bad here, everyone know somebody. but they take the money from the companies in taxes for two years and now they say is poison. and the people who will lose is not the companies, is me trying to get my money out of an app before thursday
 
Both of those are true at once and that's what makes this one genuinely hard. The mechanics here aren't normal. This is a provisional measure, not an act of parliament. It takes effect immediately but Conggress has 120 days to approve it or it lapses. So the market can be shut down now and the legal basis for shutting it down can evaporate in February. There's also a second measure on household debt signed the same evening, and a separate bill that would criminalize conduct around online gambling. The betting ban isn't standing alone, it's part of a package about indebtedness. Whether that makes it principled or better packaged politics, I genuinely can't tell you.
 
BowieDoesNotKnow said:
so if congress doesn't ratify it in feb does the market just switch back on or what
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Legally the prohibition would lapse. Practically you'd have eighty five operators who've written off their licences, closed their Brazilian entities and laid off staff. You don't rebuild that in a week because a deadline passed.
 
nobody in brazil is going to stop betting on thursday. they're going to stop betting legally on thursday

that's not me being glib, it's the only prediction in this whole thread you can make with any confidence. sweden did it, norway does it, the states did it before 2018. demand doesn't evaporate because supply gets a legal status change, it relocates to somewhere with no complaints process
 
this argument always comes up and it always assumes the only measure that counts is whether gambling continues
fewer people gamble when it takes effort. not zero. fewer. that is the entire point of friction and everyone in this forum understands it perfectly when we talk about deposit limits
 
ok that's a good point and i'm not going to pretend it isn't

my objection is narrower. the people who stop are the casual ones while people who route around it are the heavy ones, and the heavy ones were the harm you were trying to reach
 
guys the payments part is the part that should scare everyone here and its barely been mentioned! banks and payment institutions are barred from processing anything connected to fixed odds betting. the central bank is building a system to reject transactions and return funds inside their instant transfer network
that's a national payment rail with a category of transaction blocked at the infrastructure level. built for gambling, sitting there afterwards
 
while australia's version of that went through in august, banks being allowed to block payments to operators on a list. still it didn't get a fraction of this attention because it was framed as anti-illegal-operator rather than anti-gambling. same plumbing though
 
whats gonna happen to the football over there is the bit im curious about, every shirt in the brasileirao has a betting sponsor on it. lula apparently told them straight that brazilian football survived before betting money and can survive after. which is true but its also not his money to be relaxed about
 
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