The betting and affiliate company Better Collective provided an update over the weekend after Brazil banned betting and online gaming. The company is lowering its profit forecast for 2026 and withdrawing its guidance for 2027 and 2028. The board has also decided to stop the share buyback programme
“The rules of the game have changed, to say the least, and the situation is highly uncertain. It will be interesting to see how it develops. We are following Better Collective from the sidelines,” writes Affärsvärlden in a comment.
On Friday, September 25, it was announced that Brazil had introduced a nationwide ban on sports betting and online gaming, including marketing. Licensed operators have ten days to shut down their operations.
The Brazilian gaming market was regulated as recently as January 2025 and currently comprises 85 licensed companies. The process is taking place at the same time as Brazil heads toward presidential elections on October 4.
The background to the ban is growing political concern about gambling addiction and household debt following the rapid expansion of the betting market.
“Regardless, the announcement is highly unexpected, as the market was recently regulated. The Brazilian market was expected to account for 12 percent of Better Collective’s revenue in 2026. The share price is plunging as much as 25 percent on the announcement,” writes Affärsvärlden.
