Brazilian President Luiz Inacio Lula da Silva has banned online gambling days before the October 4 presidential election. This provisional measure aims to address household debt exacerbated by online gambling activities, though sports betting may remain unaffected. Facing a tight race with Senator Flavio Bolsonaro and other candidates, Lula appears to be using the ban as a strategic campaign tool. Markets anticipate a negative impact on support among younger voters, who are generally more inclined toward online gambling. Lula’s odds of winning the first round have slightly decreased since the announcement of this measure.
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