‘Betting Won’t Come Back’: Lula’s Upset Win Keeps Brazil’s Ban On

Brazil’s close-fought presidential runoff ended with a surprise win of incumbent Luiz Inácio Lula da Silva on the same day the nation’s 85 sports betting and online casino licenses lapsed. Three days earlier, Lula said betting would not come back, suggesting his government’s newly hostile policies against the industry will stay in place. Lula won Brazil’s presidential runoff on Oct. 25 with 51.79% of valid votes to Flávio Bolsonaro’s 48.21%, the Superior Electoral Court announced on Sunday night. The win was an upset, historically and on prediction markets, too. Lula had lost the Oct.

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