The Brazilian Federal Revenue Service launched Operation Conto da Sorte on Thursday. This joint action with state Public Prosecutors’ offices uncovered a BRL50 billion ($9.7 billion) illegal betting network involving 37 companies.
Authorities executed 14 search and seizure warrants in Pernambuco, Ceará, and São Paulo. The focus remained on verifying corporate structures and collecting documentation. Courts ordered the freezing of up to BRL145 million in assets to compensate for damages resulting from illegal activities.
Investigation Details and Origins
The scheme relied on shell companies and front men, some of whom received emergency aid despite lacking economic capacity. Investigators identified money laundering, tax evasion, and real estate purchases funded by illicit capital. Several entities failed to transfer net betting revenue as required by sector legislation.
The fraud originated from irregular accreditation by the LOTSERIDÓ agency in Bodó, Rio Grande do Norte. The Supreme Federal Court previously confirmed that municipalities do not possess the authority to authorize gambling. Minister of Finance Dario Durigan stated that the government maintains zero tolerance for illegal bets.
Operation Conto da Sorte marks the first serious government initiative to combat the unregulated sector and ensure the sustainability of the legal iGaming market in Brazil.