Flutter confirms 70 million dollar Brazil revenue hit after betting ban

Flutter Entertainment has put a number on Brazil's fixed-odds betting ban: roughly 70 million dollars in lost revenue and 20 million dollars in adjusted EBITDA for the remainder of 2026, assuming the company cannot resume operations before the year ends.

Brazil's Provisional Measure No. 1,394, signed 25 September 2026, banned fixed-odds sports betting and online games, reversed a regulated market the industry had spent years building toward, and gave players until 5 October to withdraw balances before platforms went dark the following day. New deposits stopped immediately. New advertising and sponsorship agreements fell with them.

Flutter's confirmation is the first major operator to attach firm figures to the shutdown. Bet Legal, a monitoring platform, counted 428 new illegal betting sites in the two days between the ban's announcement and 27 September — an early indicator of where displaced demand is going, not a measure of where it ends up.

The enforcement question is now the live one. Blocking licensed platforms is the part of the ban Brazil's government controls directly. Preventing unlicensed operators from reaching those same players through alternative payment channels and mirror sites is a different problem, and Provisional Measure No. 1,394 does not solve it.