Brazil re-elects Lula, extending negative outlook for betting sector

Lula becomes the first Brazilian presidential candidate since the return of democracy in 1989 to finish second in the first round of the election and go on to win the presidency Luiz Inácio Lula da Silva has won an unprecedented fourth term as Brazil’s president, a result that keeps the government behind the country’s betting ban in power . Lula has taken 51.75% of valid votes in Sunday’s (25 October) runoff against Flávio Bolsonaro, as of 9:12pm Brasilia time with 99.75% of votes counted, meaning he has officially been elected as the country’s next president.