Brazil’s ban on fixed-odds betting is beginning to affect media companies, with broadcasters and sports channels facing job cuts and commercial pressure following the loss of betting advertisers.
Rede Itatiaia, based in Belo Horizonte, dismissed football commentator Osvaldo Reis, known as Pequetito, and sports commentator Alê Oliveira. Pequetito was known for narrating Cruzeiro matches, while Oliveira has previously worked for ESPN, Esporte Interativo and TNT Sports.
Both announced their departures on social media. Pequetito said management called him that morning to tell him of his dismissal, while Oliveira shared a farewell message on Instagram.
Canal Goat has also reduced its workforce and begun reviewing broadcasting agreements after losing betting companies, which reportedly accounted for most of its advertisers.
Canal Goat has reportedly asked to end agreements covering the Scottish men’s championship and the women’s leagues in England and the United States, pending confirmation.
It will retain the German Bundesliga, the Saudi Pro League and Brazil’s Série B.
In 2025, Brazil’s sports betting market ended 2025 with advertising investments exceeding BR1.4bn ($290m). BetMGM, Betano and Betnacional together accounted for 62% of all investment in TV and radio, frequently alternating leadership positions throughout the year.
Between January and August 2026, operators spent BR542.4m on linear free-to-air television advertising alone, ahead of categories such as streaming.
The September 2026 provisional measure (MP) removed betting operators from the advertising market without a transition period, putting pressure on the commercial operations of television networks, radio stations, news websites and newspapers.
The MP on banning online betting has been recently extended for 60 days
