Flutter closes Betfair Brazil and cuts staff after provisional measure

Flutter has closed Betfair’s operations in Brazil and cut positions in its local business after the provisional measure banning online betting came into force, the company and industry sources said on 23 October 2026. The group said it will concentrate its Brazilian activity in Betnacional while it awaits clarity on the regulatory framework; Betnacional will serve as the local brand during the suspension of online betting operations and product lines such as casino and fixed-odds sports betting.

Commercial decision and headcount adjustment

Flutter Brazil said that, after reviewing its commercial strategy, it has decided to "focus its activities on a single brand, Betnacional", which "will result in the closure of Betfair’s operations in the country". The company also confirmed headcount reductions across several business areas, citing the suspension of commercial activity and revenue under Provisional Measure 1.394/2026.

"Flutter Brazil recognises the contribution of the affected professionals and deeply regrets the impact of these decisions on them," a Flutter Brazil spokesperson said.

The spokesperson added that the process is being managed "with responsibility, respect and care for employees, in accordance with applicable labour law" and reiterated the company’s continued support for a regulated market to protect consumers and combat illegal gambling.

Timeline and scope of impact

Employee posts on LinkedIn multiplied after the public announcement of activity cessations. Reports published on 22 October indicated the cuts affected casino teams, customer operations, content and commercial teams. Betnacional and Betfair Brasil suspended operations immediately after the provisional measure was signed. Licences were removed from licensed betting sites on 6 October.

Background on Flutter’s investment in Brazil

Flutter entered the Brazilian market by acquiring a controlling stake in NSX Group and paid about $350 million for its initial 56% stake in Betnacional, a deal that includes options to increase its ownership level. The suspension of operations interrupts the group’s expansion strategy and leaves its next steps conditional on Congress’s resolution of the provisional measure and the establishment of a regulatory framework that would allow activity to resume.

"Once there is clarity on the regulatory landscape, the company will direct resources and expertise to the local brand," Flutter Brazil added.