Appeals judge pulls Stake’s Brazil reprieve, ban now covers it

An appeals judge in São Paulo has cancelled Stake’s temporary exemption from Brazil’s betting ban.

The hit

Stake’s brief exemption from Brazil’s betting ban is over. An appeals judge in São Paulo suspended the order that let Stake keep operating until 25 October, according to Agência Brasil. The ruling, reported by Folha de S.Paulo, puts Stake back under the same restrictions as every other licensed bookmaker, including the Brazilian business of FanDuel owner Flutter, which had already shut down.

Why it matters

The Attorney General’s Office had appealed the injunction, & the judge wrote that letting one company work while all others face the restrictions creates “regulatory asymmetry” that can affect how the policy is carried out. Officials have not said whether Stake’s site has gone offline since the ruling. The underlying ban is being challenged separately at the Supreme Federal Court, where Justice Luiz Fux has signalled a decision will come only after the presidential runoff, Folha reported.

The record

Appeals ruling	Judge Luis Antonio Johonsom di Salvo (TRF3) suspended Stake’s injunction, 9 October
Original injunction	Judge Cristiane Farias Rodrigues dos Santos let Stake operate to 25 October, 8 October
Stake’s claimed Brazil investment	Stake told the court it invested over R$128m (about $25.5m), per Diário de Pernambuco
Stake’s claimed licence fee	Stake told the court it paid R$30m (about $6m) for its Brazil licence
Flutter’s exposure	About $70m in lost 2026 revenue, $20m lower adjusted EBITDA, per its SEC filing
Bettor funds held	R$1.32bn (about $263m) held by 26.5 million bettors after the withdrawal deadline, per the Finance Ministry

What happens next

Watch for whether Stake appeals the TRF3 ruling, & for Justice Luiz Fux’s Supreme Federal Court decision, expected only after the runoff.

Sources: Brazil Betting Ban Reaches Stake After 9 October Ruling | The Rio Times

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