Government identifies 48 gambling accounts with over R$500, suspected of money laundering.
The federal government has identified 48 accounts at betting houses with balances exceeding R$ 500,000 each. The finding, announced on Friday (October 2nd) by Finance Minister Dario Durigan, is considered suggestive of money laundering practices.
The amount of money held in these accounts is out of line with the pattern observed in the sector. The government and the Federal Police will investigate the transactions to determine if any crimes have been committed.
Durigan stated that "I'm not saying they all are [money laundering], but there is a movement that differs from the bulk of the accounts that had funds from betting, and they may indeed be subject to some investigation."
Effects of the ban
Since the Lula government banned sports betting and online casinos last Friday (September 25th) through a provisional measure, the total balance in accounts at legalized operators has fallen from R$ 2,1 billion to R$ 1,4 billion, according to the minister. Daily transactions, which reached R$ 600 million, have dropped to zero.
Meanwhile, the government has ordered the takedown of 10 clandestine websites since the ban came into effect, according to Durigan. He stated that the websites are taken offline within hours and that simultaneous actions on multiple fronts are aimed at preventing Brazilians from accessing illegal platforms.
A task force comprised of the Finance, Justice, Sports, and other ministries is also acting against digital influencers and messaging groups that promote gambling. The Ministry of Justice estimates that 3,5 million people have been spared exposure to gambling advertising as a result of these actions.
Pix and outflow of funds
The Central Bank has already begun mapping a migration of transactions via Pix to other sectors of the economy. Durigan said that "there has indeed been a reduction in Pix, and we continue to study to understand what the movement is, but the indication we have today is that the money is going to other sectors of the economy."
Deadline for bettors and the industry's reaction.
Bettors have until Monday (October 5th) to withdraw funds deposited on the platforms. After this deadline, refunds will be made by the banks and, as a last resort, by Caixa Econômica Federal.
The provisional measure that banned betting was published nine days before the elections and contrasts with the government's own regulation that came into effect in 2024. Companies in the sector filed a request with the Supreme Federal Court to annul the measure and reinstate previous authorizations. The sector warns of the risk of consumers migrating to clandestine platforms.
