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Lula said he intends to discuss the matter with his team and analyse potential measures to consider the social impact of online betting.
What the president does not acknowledge is that the government relies on revenue from the sector. In just the first seven months of 2026, BRL8.747 billion generated by sports betting has already flowed into public coffers. The Federal Revenue Service estimates the total could reach BRL16 billion by the end of the year. In 2025, nearly BRL9 billion was collected from sportsbooks.
The burning question is where such funds will come from if Lula shuts down the betting industry. Yet, no one points out to him that players will simply migrate to the illegal market. Betting will continue to exist, but without formal tax revenue, oversight or player protections.
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The dual approach seeks not only to limit access to gambling content on smartphones but also to provide meaningful alternatives that reduce overall reliance on digital devices.
The KGCC, which operates under the prime minister’s office and oversees gambling supervision and the monitoring of illegal gambling activity, will collaborate with the Gyeonggi education office. There will be policy coordination, student protection and the exchange of educational resources and prevention experts.
The partnership also plans to analyse operational data, develop pilot programmes and construct a model for national deployment.
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Buffett, who built his fortune buying “wonderful businesses” at fair prices and holding them for the long term, believes the public has mistakenly adopted a get-rich-quick mindset.
“We’ve never had people in a more gambling mood,” Buffett observed.
In his 2022 letter to shareholders, he criticized mobile trading apps that make day trading and speculative positioning effortless, accusing them of turning the stock market into a “gambling parlor.”
