When Capital Starts to Choose Sides
Analysis originally published by Carlos Jordaky, editorially adapted by Gaming365

The global market begins this Thursday confirming a movement that has been consolidating throughout the week: capital remains active, but increasingly judicious. In an environment marked by persistent geopolitical tensions, controlled economic slowdown and strategic disputes over energy and territory, investors continue to assume risk — but demand protection, liquidity and predictability.

Geopolitics ceased to be a circumstantial factor and began to act as a structural variable, directly influencing currencies, commodities and global allocation decisions.

Geopolitics: the risk remains incorporated into the system

The current scenario is characterized by overlapping crises. There is no single dominant focus, but multiple points of tension that keep the risk continually high:

• You United States they continue to use sanctions, tariffs and economic influence as foreign policy instruments, increasing global institutional risk;
• The conflict between Russia and Ukraine remains in an extended stage, putting pressure on energy, food and European logistics chains;
• THE Middle Eastespecially on the Iran–US axis, continues to sustain a geopolitical premium on oil;
• Strategic disputes in regions such as Arctic (Greenland) reinforce competition between great powers.

The market no longer prices quick solutions. It prices permanent coexistence with risk.

Global markets: rally without euphoria

International exchanges operate in a mixed tone, reflecting a clear pattern of selectivity:

• sectors linked to energy, commodities, defense and valuable assets have greater resilience;
• assets dependent on distant growth or structurally low interest rates remain more volatile.

This is not an optimistic or pessimistic market — but a disciplined market, guided by fundamentals.

Commodities: silent capital protection

Even without explosive movements, commodities continue to play a central role in investors’ strategies:

• THE oil maintains apparent stability, but carries a political premium linked to sanctions, regional conflicts and strategic decisions;
• THE gold remains sustained at high levels, reflecting geopolitical instability, institutional uncertainty and the search for reserve assets;
• THE silver accompanies it with greater volatility, combining financial protection and industrial demand.

When commodities remain firm for several trading sessions, the market is defending — not speculating.

Dollar: between interest and refuge

In 2026, the dollar continues to fluctuate according to the balance between:

• expectations of interest rate cuts in the United States;
• moments of global risk aversion.

The currency quickly switches between an asset sensitive to monetary policy and a safe haven in periods of tension, requiring constant attention in exchange rate risk management.

Cryptoassets: maturity amid volatility

The crypto market remains volatile, but with more rational behavior. Bitcoin continues to be treated as a risky macro asset, reacting to the dollar, interest rates and global sentiment.

Narratives lose space. Liquidity, adoption and regulatory clarity now guide decisions.

The best positioned investor is not the most aggressive, but the most prepared.

Brazil: scenario requires global reading

In the Brazilian market, the environment continues to be marked by:

• high sensitivity to the external scenario;
• permanent attention to exchange rates;
• expectations surrounding the interest cycle throughout the year.

Fixed income remains a defensive base, while the stock market requires careful selection and consistent macro reading.

Asset protection in a fragmented world

In an increasingly political and unpredictable environment, some premises become clear:

• reducing geographic concentration is no longer optional;
• combining risk and protection has become the rule;
• liquidity once again became a strategic asset;
• Quality information has become a competitive differentiator.

Investing outside Brazil is no longer just an alternative and has become a strategic decision for those seeking security, growth and financial freedom.

Do you want to understand how to protect your assets and access opportunities in the international market?

Talk to experts via WhatsApp

Fonte: Gaming365 – Brasil

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THE Mega-Sena This Thursday (22), the draw for contest 2,963 is held, with an estimated prize of R$55 million. The draw takes place from 9pm, at Espaço da Sorte, in São Paulo. Bets can be placed until 8pm, at lottery outlets or until 8:30pm on the Caixa website. Mega-Sena contests take place on Tuesdays, Thursdays and Saturdays.

The draw of the Mega-Sena contest 2,962 It was held last Tuesday night (20). No bet matched the six numbers drawn. Another 72 bets matched five numbers and won R$30,333.06 each, and 3,954 bets matched four numbers and took home R$910.46.

See the numbers drawn in contest 2,962:

06 – 29 – 33 – 38 – 53 – 56

How to bet?

To play, the bettor must choose 6 to 15 numbers from the 60 available on the wheel. The minimum bet amount is R$6.00. To bet online you must be over 18 years old, and have registration and a valid credit card. The draws are broadcast live on the Caixa channel on YouTube.

Odds

The probability of winning in each contest varies according to the number of tens played and the type of bet made. For a simple bet, with just six tens, which costs R$6.00, the probability of winning the millionaire prize is 1 in 50,063,860, according to Caixa.

For a bet with 20 tens (maximum limit), with a price of R$ 232,560.00, the probability of hitting the prize is 1 in 1,292, according to Caixa.

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The governments of Portugal and Hungary ordered the platform to be blocked Polymarketaccused of operating betting without a license and violating local gambling laws. The measure comes after the company gained prominence for allowing bets on elections and other political events.

In Portugal, the Gaming Regulation and Inspection Service (SRIJ) ordered the site to suspend its activities in the country and blocked access from Portuguese IP addresses. The body classified the service as an illicit gambling activity, as Portuguese legislation prohibits betting related to electoral processes.

According to the SRIJ, the blockade was motivated by an atypical movement in values ​​before the Portuguese presidential election, held on January 18th. According to the organization, more than €4 million had been bet in the hours before the release of the official results, raising suspicions about the use of privileged information.

“The site is not authorized to offer betting in Portugal and, according to national legislation, betting on political events or happenings, whether national or international, is not permitted,” Portuguese regulators told local broadcaster Rádio Renascença.

In Hungary, the regulatory authority also ordered the suspension of access to Polymarket, alleging that the company promoted betting without authorization. Users have reported that the site displays restriction messages when accessed from local addresses, while the government conducts an investigation into the platform’s operations in the country.

Polymarket is a blockchain-based prediction market that allows users to trade contracts on the outcomes of real-world events — such as elections, court rulings, economic indicators and sports competitions. Despite stating that its objective is to “collect information in a decentralized way”, regulatory bodies in different countries consider the activity to be an unregulated form of betting.

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Since the launch of centralized self-exclusion platformin December 2025, more than 217 thousand people requested to block access to online betting platforms. The data are from Prizes and Betting Secretariat of the Ministry of Finance (SPA-MF).

The platform allows the user to request blocking of access to game websites and advertisements for a specified period, as a form of personal control. After the request, operators have up to 72 hours to cancel the bettor’s account. Previously, each bookmaker was already required to offer its own blocking mechanisms.

“Betters can self-exclude from betting sites for a set period of time – returning after the chosen period has passed, or for an indefinite period of time. In the second case, to return they must present a medical report and wait for analysis by the SPA for a minimum period of 30 days, according to guidelines available on the platform”, stated the ministry.

According to the SPA, almost four in ten requests (37%) were motivated by loss of control over gambling or negative effects on mental health. Already 25% of users stated that they used the system to avoid the misuse of their personal data.

The majority of requests — 73% — were made for permanent lockdown, while 19% chose to step aside for a year.

The self-exclusion system was implemented as one of the social responsibility measures provided for in the regulation of online betting, bringing together in a single environment mechanisms that were previously offered individually by each operator.

The mechanism was regulated by SPA/MF Ordinance No. 2,579/2025 and Normative Instruction No. 31/2025, which established the technical procedures for its integration into the Betting Management System (Sigap).

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Sports betting and online gaming companies, the so-called ‘bets’, generated gross revenue of R$37 billion in 2025, according to data released by Prizes and Betting Secretariat (SPA), linked to the Ministry of Finance.

It is on this amount that the obligation to allocate 12% for legal purposes applies, as determined by sector regulations. The total prizes paid to bettors were not reported in the report.

Federal collection

The balance shows that the federal government raised around R$2.5 billion from authorization grants paid by companies authorized to operate in the betting market. In addition, R$95.5 million in inspection fees were collected until December, relating to the actions of authorized agents. Currently, 79 companies are permitted to operate in the country.

Self-exclusion platform

In the area of ​​user protection, SPA highlighted the performance of the Centralized Self-Exclusion Platform, created to allow bettors to block access to accounts on betting websites and applications.

In just 40 days of operation, the system recorded 217 thousand deletion requests voluntary. The main reason given was “loss of control over the game — mental health”, mentioned by 37% of users.

Another 25% claimed to want to prevent the misuse of personal data. The majority of exclusions, around 73%, were made for an indefinite period, while 19% chose to be blocked for a year.

25 thousand illegal websites will be blocked in 2025

In the fight against illegality, SPA reported that more than 25 thousand irregular betting sites were blocked throughout 2025, in partnership with the National Telecommunications Agency (Anatel).

According to the organization, 25.2 million Brazilians placed some type of bet last year — a number that reflects both the economic growth of the sector and its social and behavioral effects in the country.

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One betting house was ordered by the Santa Catarina Court to compensate a player with R$10,000 and to reimburse R$217,800 lost in bets over eight months. The decision is made by judge Paulo da Silva Filho, from the 1st Civil Court of the District of Tubarão, reveals a report from Metropolises.

According to the process, the player developed compulsive behavior related to the Responsa Gamming platform, allocating all available money to betting “motivated by the hope of winnings that never materialized”, according to the recorded statement.

During the eight months he used the platform, between June 2024 and February 2025, the gambler took out loans from friends and family, in addition to compromising his credit card limit to support his addiction.

The judge found that the company failed to provide services by not adopting effective mechanisms to prevent gaming addiction, such as loss limits, compulsive behavior monitoring systems and clear warnings about risks. According to him, the absence of these measures directly contributed to the worsening of financial losses.

In the sentence, the judge stated that “the evidence produced is sufficient to attest to the veracity of the facts alleged by the plaintiff, and the defendant may be awarded the refund of the amounts spent within the bookmaker’s platform, as material damages”.

The company did not present a defense in the process, and the case was judged in absentia. The victim’s name was not released.

Fonte: Gaming365 – Brasil

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The recent crisis involving Banco Master, the manager Reag Investimentos and the fintech Will Bank has reignited the debate about systemic risk in the Brazilian financial system and its possible repercussions on the economy as a whole. In recent months, regulatory authorities, investors and market agents have started to closely monitor the developments in these cases — which, although not officially classified as systemic, expose institutional weaknesses, governance failures and risks of financial contagion.

The episode occurs at a time of greater market sensitivity to topics such as financial stability, institutional trust and asset protectionfactors that directly influence investment decisions in Brazil and abroad.

Institutional collapse and immediate impact

In November 2025, the Central Bank of Brazil decreed the extrajudicial liquidation of Banco Masterafter finding that the institution had no prospects for recovery and was facing increasing liquidity and solvency difficulties. The measure officially ended its operations within the National Financial System (SFN).

Shortly afterwards, in January 2026, the Central Bank also ordered the liquidation of the Reag Investimentosmanager responsible for dozens of funds and directly involved in operations with Banco Master. Part of these transactions began to be investigated due to signs of opaque structures and possible large-scale fraud.

According to preliminary findings, around R$ 11.5 billion in operations between funds managed by Reag and the bank are under analysis by tax and police authorities. The volume and complexity of these transactions reinforce the perception that governance and oversight failures contributed to the worsening of the crisis.

Will Bank and the risk of financial contagion

The case gained a new dimension with the involvement of Will Bankdigital financial services fintech acquired by Banco Master in 2024. The institution, which concentrated billions of reais in customer deposits, also entered the regulators’ radar.

Recently, the Central Bank decreed its extrajudicial liquidation, generating concern among investors and account holders about the security of deposits and the potential for financial contagion.

The effects of this movement go beyond the companies directly involved. The performance of the Credit Guarantee Fund (FGC) to reimburse depositors is already considered one of the largest in history, with estimates of disbursements that could reach tens of billions of reais — a relevant test for investor protection mechanisms in Brazil.

Systemic risk: market perception versus regulatory discourse

The concept of systemic risk refers to the possibility that the bankruptcy or instability of an institution will cause cascading effects and compromise the stability of the entire financial system.

Despite growing concerns, regulatory authorities have reiterated that the case is currently does not represent a systemic threat to the SFN. The Financial Stability Committee (Comef), linked to the Central Bank, assessed that the affected conglomerate represents less than 1% of the total assets of the Brazilian financial systemwhich, in theory, would limit broader impacts.

Still, experts warn that the effects go beyond numbers. Trust is a central asset in finance. Scandals of this nature tend to:

• raise the cost of capital
• reduce risk appetite in the domestic market
• press the gear
• impact the perception of country risk

Dangerous connections and lessons for Brazil

The combination of aggressive financial engineering, governance gaps and interdependence between institutions reveals structural vulnerabilities of the system. Although banks, managers and fintechs fulfill different roles, their cross-operations can propagate risks in a non-linear way — one of the main vectors of systemic risk.

This episode occurs at a time when Brazilian investors have been increasing their exposure to international marketsnot just in search of return, but as a strategy for diversification and asset protection.

More liquid markets, more predictable regulatory structures and greater institutional transparency have attracted investors seeking to reduce risks concentrated in the domestic environment.

Partial dollarization and access to global markets

The recent crisis reinforces arguments from analysts who defend the partial dollarization of portfolios and greater financial education aimed at understanding global markets.

In mature economies, the interaction between assets, monetary policies and regulatory structures tends to be more transparent, allowing a clearer reading of risks. This does not mean abandoning the Brazilian market, but reduce dependence on a single institutional system.

In this context, learning about international investments becomes less a question of profitability and more of a strategic decision. risk management, asset preservation and financial freedom.

A new cycle of risk attention

The episode involving Banco Master, Reag and Will Bank marks a turning point in the debate on financial stability in Brazil. Even if authorities deny immediate systemic risk, the impact on confidence is real — and lasting.

In scenarios like this, more prepared investors tend to adopt three principles:

1⃣ Geographic diversification
2⃣ Access to global assets
3⃣ More robust asset protection structures

Do you want to understand how to protect your wealth through international assets, including gold and structures outside the domestic system?

Talk to experts via WhatsApp:
https://wa.me/5519981478080?text=Conhe%C3%A7a%20as%20formas%20de%20investir%20em%20ouro.

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US stock markets are higher this Wednesday after the president donald trump adopt a more conciliatory tone in relation to the controversy surrounding the Greenland, explicitly ruling out the use of military force to acquire the territory, currently a semi-autonomous region under Danish sovereignty.

The change in discourse was interpreted by investors as a sign of immediate geopolitical risk reduction, relieving some of the tensions that had pressured global assets in recent days.

According to market data:

• Dow Jones Industrial Average rose around 0.4%
• S&P 500 advanced approximately 0.3%
• Nasdaq Composite had an increase of close to 0.1%

The move comes after a negative session the previous day, when the main indices recorded their worst falls since October, amid increased trade and political tensions.

Trump speaks in Davos and softens tone on Greenland

During his participation in the World Economic Forum, in Davos, Switzerland, Trump highlighted the performance of the North American economy, stating that the country had moved from a period of “stagflation” to a phase of high growth and controlled inflation.

However, the main point of attention in the speech was his approach to Greenland. The president reaffirmed his strategic interest in the region, but ruled out the use of force:

“I am seeking immediate negotiations to acquire Greenland,” Trump said.
“I don’t want to use force. I’m not going to use force.”

He also stated that he intends to reach an agreement that leaves NATO allies “very satisfied”, signaling an attempt to reduce the diplomatic noise surrounding the issue.

Market reacts after session of strong risk aversion

On Tuesday, global markets came under pressure after Trump threatened to impose new tariffs on European countries if his demands related to Greenland were not met.

The move raised risk perception, boosted US Treasury bond yields and caused the 10-year Treasury yield to reach its highest level since August.

Wednesday’s more moderate stance helped to restore some confidence, reflected in the rise in indices.

Earnings season: Netflix falls, airlines rise

The week continues to be busy in the corporate field. Among the highlights:

Netflix (NFLX)

The company released better-than-expected results in the last quarter, but presented a weak projection for the first quarter of 2026. The company also warned of the drop in the audience for licensed content, which put pressure on its shares in the pre-market.

The announcement came shortly after Netflix increased its $72 billion bid for Warner Bros.’ studio and streaming division. Discovery, amid a dispute with Paramount Skydance.

United Airlines (UAL)

Shares rose after the company beat profit expectations and released an optimistic forecast for 2026, driven by strong corporate and high-income consumer demand.

Other highlights:

• Kraft Heinz (KHC) fell after indication that Berkshire Hathaway may sell its 27.5% stake.
• Johnson & Johnson (JNJ) retreated even after positive projections, citing impacts from pricing agreements with the US government.
• Halliburton (HAL) rose after publishing better-than-expected results.
• Travelers (TRV) advanced with profits above projections.

Gold reaches new all-time high

While stock markets rose, gold once again attracted attention by reaching new historic highssurpassing the mark of $4,800 per ounce.

The movement reflects the increase in demand for protective assets in the face of:

• geopolitical tensions
• commercial disputes
• institutional uncertainties

Spot gold was traded at US$4,888.13while US futures advanced more than 2%.

Oil falls and market monitors inventory data

Oil prices fell, pressured by concerns about global growth in the face of US tariff threats, even after the International Energy Agency raised its demand projection for 2026.

Investors are also closely watching weekly reports on U.S. oil and gasoline inventories.

Context for Brazilian investors

The episode reinforces how geopolitical tensions, political speeches and diplomatic decisions can generate immediate impacts on global markets.

For Brazilian investors, this type of volatility reignites discussions about:

• international diversification
• exposure to global assets
• asset protection
• partial dollarization of portfolios

Do you want to understand how to protect your wealth through international assets, including gold and structures outside the domestic system?

Talk to experts via WhatsApp:
https://wa.me/5519981478080?text=Conhe%C3%A7a%20as%20formas%20de%20investir%20em%20ouro.

Fonte: Gaming365 – Brasil

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THE Paraíba State Lottery (Lotep) is participating, between January 19th and 21st, in ICE Barcelona 2026, considered the largest international technology, innovation and business fair focused on the gaming, betting and lottery sector. The event brings together regulatory authorities, operators, suppliers and experts from different countries, being one of the main global forums in the segment.

The Lotep delegation is made up of Christhiny Masiero Sanson, responsible for the municipality’s digital modernization; Glauco Borges, Planning, Collection and Collection advisor; Abraão Araújo, Technical and Inspection manager; and João Gilberto Montenegro, coordinator of the Technical-Normative Advisory. They are all also part of the Lotep Administrative Council and the Lottery Operations Center (NOL).

During the fair, the delegation fulfills a strategic agenda that includes technical visits to suppliers and specialized companies. The objective is to discover innovative solutions in technology, control systems, security, compliance, supervision and responsible gaming practices applicable to the lottery sector.

Representatives of the authority also participate in the activities of Casa Brasil, an institutional space that brings together Brazilian regulators and operators. The location seeks to promote international exchange, alignment with best global practices and strengthen the presence of Brazil and Latin America in the global regulated gaming and betting market.

According to Glauco Borges, Lotep’s presence at ICE Barcelona is strategic for the institutional strengthening of the municipality. “Being present at ICE Barcelona allows us to closely monitor the main global trends in the sector, learn about innovative technological solutions and strengthen dialogue with international regulators and suppliers,” he said.

“This exchange is fundamental to improving our processes, ensuring greater efficiency, transparency and security, and consolidating Lotep’s increasingly modern and responsible operations”, he added.

Fonte: Gaming365 – Brasil

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THE SportyBet announces a new partnership with LALIGA, one of the most prestigious football leagues in the world. The collaboration reflects SportyBet’s strategy of positioning itself alongside the most prestigious properties in global football, bringing the Brazilian public closer to experiences and content linked to elite international competitions. Through the partnership, SportyBet and LALIGA will work together to engage Brazilian fans through locally developed activations that connect elite football with Brazilian culture and passion.

At the heart of the collaboration is a focus on exclusive experiences, offering SportyBet users access to opportunities that go beyond matches. Initiatives include VIP experiences on game days, meet-and-greets with special guests, exclusive hospitality moments and special fan journeys with behind-the-scenes access. The activations are designed especially for the Brazilian public, recognized for their passion for football, rewarding engagement with unique and memorable experiences.

The partnership also features exclusive draws for official LALIGA items, allowing participants to compete for official shirts, game balls and licensed products related to important matches and notable moments of the season. Campaigns are run during select LALIGA game weeks, helping to generate anticipation around high-profile clashes and historic rivalries.

“LALIGA is one of the most prestigious sports properties in world football and has great relevance among the Brazilian public. This partnership represents an important step in our long-term strategy in Brazil”, says Igor Liporase, Country Manager Brazil at Sporty Group. “By working alongside a brand with global projection like LaLiga, we expand our ability to offer exclusive experiences that strengthen our users’ connection with the best of football – in an authentic and memorable way.”

In addition to user engagement initiatives, the agreement includes special LALIGA-themed betting promotions around major matches, complementing the partnership as a whole. Together, SportyBet and LALIGA seek to deliver a more immersive football experience, combining high-level competition, exclusive access and match-day engagement for the Brazilian public.

“Brazil is one of the most vibrant football markets in the world, and this partnership brings together two brands that share a deep commitment to the fan experience,” said Marc Tarradas, General Director for South America at LALIGA. “By working side by side with SportyBet, we can deliver innovative and engaging initiatives that connect fans to the excitement, rivalries and stories that define LALIGA, in a way that is authentic and relevant to local audiences.”

The partnership between SportyBet Brasil and LALIGA is designed to create a more immersive and engaging journey for users, bringing together elite football content, exclusive experiences and expanded betting benefits in a single ecosystem designed for Brazilian fans.

About SportyBet

SportyBet is a leading global sports betting and entertainment platform built on innovation, performance and a commitment to a premium user experience and responsible gaming. Driven by advanced technology and a passion for football culture, SportyBet offers a high-quality gaming ecosystem that combines enhanced betting offerings, exclusive rewards and immersive activations.

About LALIGA

LALIGA is the largest football ecosystem in the world. It is a private sports association made up of the 20 Sports Limited Societies (SADs) and clubs from LALIGA EA SPORTS and the 22 from LALIGA HYPERMOTION, being responsible for organizing professional football competitions in Spain. LALIGA has more than 258 million followers worldwide on social media, distributed across 16 platforms and in 20 different languages. Headquartered in Madrid (Spain), it has the widest international network among sports properties and is present in 35 countries through 8 offices. The organization develops its social work through its FOUNDATION and was the first professional football league in the world to create a league aimed at players with intellectual disabilities: LALIGA GENUINE.

Fonte: Gaming365 – Brasil

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