Brazil Betting Outlook Darkens After Lula Re-Election

Luiz Inácio Lula da Silva’s re-election has added further pressure to Brazil’s betting sector, with licensed operators still offline under Provisional Measure 1,394 and no clear timetable for a return. Lula secured a fourth presidential term after defeating Flávio Bolsonaro in the October 25 runoff with 51.75% of the vote. Betting companies had watched the election closely because Bolsonaro had taken a more supportive position toward the sector and won the first round.