Lula says bets will not return if he is reelected, and criticizes Brazil’s online gambling sector

Brazilian President Luiz Inácio Lula da Silva said online bets will “not return” if he wins reelection, framing the issue as a fight over household finances rather than a gambling-policy debate. For operators, PSPs, and sports-related merchants, the important part is simple: Lula is signaling that the sector could stay under pressure through another term, even if the current rules remain unchanged for now.

1. During a broadcast, Lula said: “We have to end this plague because, if we do not end bets, they will end the Brazilian people. And I am very happy to make this decision, very happy. They will not return anymore. Whoever wants to make money will have to work.”
2. He repeated his criticism of online betting’s economic effects on Brazilians, especially lower-income consumers, and said he would not accept the resources of poorer people being used to finance football clubs. He added: “Betting on the impoverishment of those who are already poor and trying to squeeze the poor to help football teams will not happen again in this country. It will not happen.”
3. Lula tied the discussion to family finances and the role of betting in the Brazilian economy, but he did not provide details on how a ban would be maintained, what regulatory tools would be used, or how the government would treat different segments of the gaming industry.
4. As an alternative, he argued for investment in vocational training and better-paid jobs, saying: “What we need is to invest in the professional training of this population, so that everyone can have quality jobs and earn well.”
5. In the same broadcast, Lula also floated the idea of creating a financial guidance secretariat and suggested influencer Nath Finanças for the role. He presented it as part of a broader push to improve household money management, though no further details were given.

For Brazilian gambling operators and their payment partners, the takeaway is not just the rhetoric. When a president makes reelection conditional on keeping a sector out, the commercial risk becomes political, which is usually the kind that takes longer to price into underwriting than anyone would like.