Brazil Shuts Down Over 2,000 Betting Sites

The Brazilian government has begun shutting down over 2,000 betting sites, including those linked to popular football clubs like Corinthians, as part of a crackdown on what Finance Minister Fernando Haddad describes as a betting 'pandemic.' Following the legalization of sports betting in 2018, the industry has grown with minimal regulation, leading to issues like fraud and money laundering. The new regulations, set to take effect in January, aim to protect users, especially minors, from gambling and will require sites to regularize their operations. Among those identified for shutdown are sites like Esportes da Sorte, a major sponsor of several football teams. The finance ministry has flagged 2,040 'suspicious domains' that will be blocked, while over 200 compliant sites will remain operational. With an estimated 24 million Brazilians engaging in online gambling, President Luiz Inacio Lula da Silva warns that this trend is pushing many low-income citizens into debt.