Brazil President Luiz Inacio Lula da Silva, whose government is trying to stop a sports bets craze consuming household incomes, said on Sunday he will ban online betting if regulation does not cure “addiction” by bettors. Soccer-mad and bet-loving Brazilians have fallen hard for sports betting since it was legalized in 2018 and bank studies show that bets are hitting household incomes, reducing consumer spending and bankrupting families. Lula said it was unacceptable that low-income families that receive social security transfers through Brazil’s Bolsa Familia program should be spending the money on bets.
Brazil’s Lula says will ban sports bets if ‘addiction’ not regulated
