Brazil allows bookmakers to use its mandatory reserve of 5 million reais (803,000 euros) to return money to players

The move comes after the ban on fixed-odds betting in the country and the closure of platforms.

The new SPA/MF Regulatory Instruction No. 32 of 6 November 2026, published on 10 November, allows companies that lack sufficient liquidity to apply for authorisation to use the funds constituted as a guarantee for the protection of bettors.

This reserve, established by Ordinance SPA/MF no. 615/2024, amounts to R$ 5 million per company and is intended to guarantee the return of amounts owed to users.

The regulations determine that these resources may only be used to return the balances of the players. It is expressly forbidden to use them to pay salaries, taxes, administrative expenses or costs related to the closure of operations.

To access the reservation, operators must present to the SPA the documentation that proves the amounts pending refund and will be responsible for the veracity of the data provided.

Once the application has been examined and authorised, the funds will be transferred to Caixa Econômica Federal, the entity in charge of making the corresponding refunds.

Companies may subsequently request the release of any surplus amount, provided that they prove that they have no outstanding obligations to bettors.

Betting ban remains in place

This provision develops the measures adopted following Provisional Measure No. 1,394, of September 25, 2026, which prohibited the exploitation, offering, intermediation and advertising of fixed-odds betting, both sports and online games, in Brazil.

The prohibition also affects foreign operators offering these services to users located in Brazil and state and Federal District authorizations. The other legally authorized lottery modalities are outside its scope of application.