Brazil’s betting ban could cost about $23.5 billion, according to ANJL

An estimate from ANJL says a ban on betting in Brazil could result in losses of about $23.5 billion. For high-risk payment companies, the point is simple: when a market is pushed out of the regulated channel, payment flows do not disappear — they get rerouted, and PSPs are left dealing with the operational and compliance fallout.

1. ANJL put the potential loss from a betting ban in Brazil at about $23.5 billion. That is the figure cited in the source, and it frames the issue as more than a local policy dispute: it is a question of where payment volume goes when a vertical is blocked.
2. The original item does not give a breakdown of the estimate, the time period it covers, or the methodology behind it. So the only hard fact here is the number itself and the direction of travel: a prohibited betting market implies a large amount of activity leaving the regulated rails.
3. For PSPs, acquirers, and banking partners, Brazil matters because betting is exactly the kind of vertical where a sudden policy shift can change merchant risk overnight. If the regulated route narrows, pressure typically moves to onboarding, monitoring, chargeback handling, and the bank’s appetite for remaining in the flow.