Immortal 5

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Brazil President Luiz Inácio Lula da Silva stated that, if it were up to him, online betting companies would be shut down.

During a livestream on Sunday, he said he had met with “eight victims of online betting”. To reinforce his criticism of the sector and in an attempt to win over conservative voters, he pointed out that one gambler had made 1,400 instant fund transfers (Pix) to a betting site. Lula criticised the Central Bank for failing to detect such a high volume of transactions to a single company.

However, that responsibility does not lie with the Central Bank. It is the role of the Secretariat of Prizes and Bets to monitor and regulate the sector. Betting companies submit detailed daily reports on bettors’ financial transactions with the sites. A specific module within Brazil’s betting management system detects recurring transfers.

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The latest 2025 contribution report indicated that $127 million was awarded, with $53.3 million specifically allocated to sport-related organisations.

Caroline Lamb informed a recent review that the current responsibility of annually processing over 500 ClubGRANTS applications within a short time frame imposed significant constraints. 

Lamb described this task as “practically limiting the authority’s ability to most effectively monitor compliance” across the scheme.