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Brazil's Lula Bans Online Betting Ahead of Elections

Brazilian President Luiz Inácio Lula da Silva signed an order banning online sports betting and casinos shortly before the October 4 presidential election.
The order immediately stops new deposits and advertising, requires websites and apps to go offline on October 6, and must be approved by Congress within 120 days.
Lula said the ban addresses gambling-related debt and addiction, while officials said more than 60 billion reais had flowed from families to legal betting companies.
Football clubs and betting-industry groups warned that the ban could reduce sponsorship, jobs, and tax revenue while pushing gamblers toward illegal platforms.

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