Brazil's Finance Minister Dario Durigan said the provisional measure banning betting operators halted approximately BR600m in daily transactions.
The Minister mentioned data from the Central Bank, stating that the amount was previously directed to betting platforms.
"Daily movement to betting houses, before last Friday, ran around BR600m a day. That movement stopped existing as of Saturday. We had a flow of BR600m that was basically wiped out after the measure," he said.
Durigan said the Central Bank also identified a reduction in transactions made through Pix, Brazil’s instantaneous payment method, following the ban, with preliminary data showing a 10% drop in instant payment transactions between Saturday and Monday.
"We've noticed a decrease in Pix. There's already some movement toward other sectors of the economy. This is being investigated. There was a reduction in Pix identified by the Central Bank and by banks. We continue studying this to understand the movement. What we have is an indication that the money is going to other sectors of the economy," he added.
Durigan met recently with Justice Minister Wellington César Lima e Silva to discuss the measure's effects and enforcement actions against betting platforms.
Following the meeting, the ministers said around 10,000 betting sites had been referred to telecoms regulator Anatel for blocking since the measure took effect. Durigan also said the government identified 48 betting accounts holding balances above BR500,000, which the economic team suspects may have been used for money laundering.
Separately, monitoring firm Bet Legal identified 415 new unlicensed betting sites appearing within two days of the ban, while the Federal Government has begun sending WhatsApp messages through its official Gov.br channel warning users with remaining balances to withdraw their funds.
After the ban, Brazil's National Association of Games and Lotteries (ANJL) ended its agreement with Sportradar covering sports integrity initiatives in Brazil
