Flutter shutters Betfair Brazil and starts layoffs after Brazilian betting ban

Flutter has closed Betfair’s operations in Brazil and announced workforce reductions across its local business after a provisional measure effectively halted online betting in the country. The decision follows the group’s wider restructuring, which included announcing up to 1,400 job cuts and the planned closure of Sky Bet’s Malta operation, and comes as Flutter moves to concentrate Brazilian activity on Betnacional while it waits for clarity on the regulatory future.

Closure and consolidation in Brazil

Flutter Brazil said it will focus its activities on a single brand, Betnacional, and that this will result in the closure of Betfair’s operations in the country. The company attributed the move to the suspension of commercial activities and revenue under Provisional Measure 1,394/2026, signed by President Luiz Inácio Lula da Silva, which takes control of fixed-odds betting and internet casino operations and halted operators across Brazil.

"After reviewing its commercial strategy, Flutter Brazil has decided to focus its activities on a single brand, Betnacional, which will result in the closure of Betfair’s operations in the country," Flutter Brazil said in a statement to NEXT.io.

Betnacional and Betfair Brazil stopped operations immediately after the provisional measure was signed. Reports published on 22 October 2026 indicated the local cuts affected casino, customer operations, content and commercial teams. Licenses had been removed from licensed betting sites by 6 October 2026, according to the company statement.

Job reductions and wider restructuring

Flutter confirmed workforce reductions across several business areas in Brazil and said the process is being conducted in accordance with applicable labour legislation. The company added:

"Flutter Brazil recognises the contribution of the affected professionals and deeply regrets the impact of these decisions on them. The process is being conducted with responsibility, respect and care for employees, in accordance with applicable labour legislation."

These Brazilian cuts follow the group's announcement that it has placed up to 1,400 roles at risk of redundancy in its UK and Ireland division and plans to close Sky Bet’s Malta operation as part of a broader restructuring.

Strategic background and next steps

Flutter entered the Brazilian market by acquiring a controlling stake in NSX Group and paying about $350 million for an initial 56% stake in Betnacional, a deal that included options to increase ownership. The company said further steps in Brazil will depend on the outcome of the congressional resolution relating to the provisional betting measure and on a regulatory framework that would permit resumption of operations. Flutter reiterated it continues to advocate for a regulated and supervised market to protect consumers and combat illegal betting.

For now the group has simplified its local business model and is directing resources to Betnacional while it monitors developments in the regulatory landscape.