Brazil's President Luiz Inácio Lula da Silva said on Wednesday he favors a national ban on online betting platforms, whose revenues in the South American nation are estimated at more than $4 billion per year, one of the biggest markets in the world.
The 80-year-old Lula, who is running for reelection in October, said online gambling has caused “a massive tragedy” for millions of families who have seen household debt soar.
“If it is up to me, we close them,” Lula said in an interview to website ICL Noticias. "I am deeply worried about the indebtedness of the Brazilian people. If these platforms cause harm, why don’t we end them? We are discussing this very seriously.“
