As sports betting addiction takes hold in Brazil, the government moves to crack down

Associated Press

SAO PAULO (AP) — The story of “King,” who doesn’t disclose his real name, is similar to that of many vulnerable Brazilians in recent years. The country has become the third-biggest market in the world for sports betting, following the U.S. and the U.K. But unlike those countries, rampant advertising and sponsorship have been coupled with an unregulated market. Now, Brazil’s government is cracking down. On Oct. 1, the economy ministry prevented more than 2,000 betting companies from operating in Brazil for having failed to provide all the required documents. President Luiz Inácio Lula da Silva said he will shut down the entire market in Brazil if his administration’s new regulations fail to work.