Banks begin returning R$ 1.3 billion to bettors
Banks and financial institutions have begun returning approximately R$ 1.325 billion that remained in bettors’ accounts following the shutdown of online betting platforms affected by the federal government’s Provisional Measure […] O post Banks begin returning R$ 1.3 billion to bettors apareceu pri…
Banks and financial institutions have begun returning approximately R$ 1.325 billion that remained in bettors’ accounts following the shutdown of online betting platforms affected by the federal government’s Provisional Measure (MP) 1.394/2026. The refund is expected to reach approximately 26.5 million bettors and continue until next Wednesday (14). The deadline for voluntarily withdrawing funds from the platforms ended at 11:59 PM on Monday (5). The following day, the websites and apps affected by the measure began going offline. Betting companies had until Thursday (8) to forward to financial institutions data on balances linked to the CPF numbers and bank accounts used for deposits. How to receive payment The refunds will be processed by financial institutions in accordance with the schedule established by the government. Bettors should monitor activity in the bank account used to deposit funds into the platforms. Key dates: October 5: deadline for voluntary withdrawals from the platforms; October 6: start of taking the affected websites and applications offline; October 7 and 8: transmission of balance data to the banks; October 9 to 14: period scheduled for the return by financial institutions; Starting October 14: Caixa Econômica Federal will take over cases involving operational impediments. Small balances A significant portion of the funds is distributed across accounts with very low balances. According to the government, 86.2 million accounts held balances between R$ 0.01 and R$ 0.99, totaling R$ 15.5 million. The number of accounts exceeds the number of bettors because the same person can be registered on different platforms. The Provisional Measure and its ramifications The provisional measure mandating the termination of the operations covered by the decision was published on September 25, but it still requires approval by the National Congress within the statutory deadline to remain in effect. The composition of the Senate Joint Committee has already been announced, and the deadline for submitting amendments to the text expires this Tuesday (13). Furthermore, the measure is also being challenged in the Supreme Federal Court (STF), with Justice Luiz Fux serving as the reporting justice. O post Banks begin returning R$ 1.3 billion to bettors apareceu primeiro em iGaming Brazil.