Brazil’s licensed betting operators have lost about R$1.35 billion (roughly $270 million) in GGR between 25 September, when Provisional Measure 1.394 barred new deposits and bets, and 5 October, according to Blask’s estimate.

At the pre-ban pace, every further week without licensed betting adds roughly R$0.8 billion, about $160 million, to that total.

Blask started from the official gross gaming revenue of licensed operators in the first half of 2026, R$20.07 billion, about 15% above the first half of 2025, and projected that pace forward from 25 September, when new deposits and bets stopped. Brazil has little seasonality compared with other markets, and the licensed market was growing every month before the decree, so the projection includes an adjustment for that growth. Only licensed brands are counted.

The sites went offline on 6 October, and the licences end around 25 October. At the pre-ban pace, each week of a closed market costs roughly R$0.8 billion. The measure needs congressional approval within 120 days or it lapses, and the vote can slip into February 2027.

The market that is standing idle is not a small one. Brazil was the largest iGaming market in the world by demand in the first half of 2026, according to Blask Index, a real-time measure of market demand volume for iGaming brands in a given country, based on normalized search data. Its score of 1,407.1 million was 15% of the global total across the countries Blask tracks and well ahead of the Philippines at 879.6 million.

By Blask’s modelled revenue baseline (CEB), Brazil ranked fourth in the world in the same period, at about $5.4 billion (modelled range $4.0 to $9.6 billion). Ten licensed brands accounted for 66% of it, and Betano alone for 23%.

So far, the money is not visibly moving to unlicensed sites. In Blask’s behavioural panel, reach to unlicensed sites stayed within 11% of normal on every day of the first week, while licensed reach fell 74% below normal by 1 October. Most legal bettors have stopped for now. What it means for the state: federal betting tax was $1.8 billion in 2025, the 85 licences cost $456 million in total and are extinguished with no refund, and the government’s own estimate of lost revenue to 2028 is $2.4 billion (public sources, cited in the full report).

Blask has published a full report on Brazil’s betting ban, with the detailed data, methodology and sources behind this release. Download it here: https://blask.com/reports/brazil-market-ban/

About Blask. Blask is an AI-native iGaming analytics platform. It provides independent market intelligence on iGaming markets: brand demand, market size estimates, competitive positioning and momentum, acquisition benchmarks and revenue baselines across 140+ markets. Blask figures are modelled and do not replace operator-reported financials or regulator disclosures.