Luiz Felipe Maia: The ban on betting creates distrust towards Brazil
By The Weekly Edge desk ·
Summary
Brazilian lawyer Luiz Felipe Maia of Maia Yoshiyasu Advogados told iGaming Business at SBC Lisbon that the betting ban announced by the president in late September is politically motivated and will damage investor confidence. He expects Congress or the courts to overturn it, citing possible compensation claims against the state, about BRL15 billion ($2.99 billion) in lost annual revenue and a shift of bettors to the illegal market. He also disputes the Attorney General's Office action seeking BRL1 billion in collective moral damages and BRL2.6 billion in SUS reimbursement, saying operators acted lawfully.
Why it matters
Maia says the ban threatens investor confidence and could expose operators to legal uncertainty and compensation claims.