The ‘sleeping giant’ of Brazil could finally awaken and go live with gaming in 2022, paving the way for the region to become one of the world’s largest betting markets.
In its latest country report, BtoBet dives into the Brazilian market’s growth potential should regulations be finalized soon.
Brazil presents countless opportunities for gaming operators to expand their footprint as it is one of Latin America’s biggest consumer bases and it has a population with a propensity for gaming.
However, the country’s government has to decide on the number of licenses that it will be handing out, and more importantly, under what terms.
The report reads that “whilst progress has been slow, there is a big expectancy that once regulated the local sports betting industry could develop itself into one of the most lucrative on a global stage. The esports environment, a proxy for gambling, reveals that Brazil already ranks as the third-largest customer base worldwide with more than 30 million players.
“This shows the appetite among Brazilians for gaming entertainment and provides support for the forecasts of dramatic market expansion once gambling is legalized.”
Later this month, the lower house of Brazil’s Congress is preparing to vote on sports betting and lottery regulations which could pave the way for the market to grow even further.
Having generated revenues of BRL 7bn in 2020, the gambling industry could serve as a steady revenue source for the government while also creating many new jobs.
BtoBet’s Industry Report also provides an in-depth analysis of local player behavior, indicating that in addition to sports betting, the local players also bet on Federal Lottery, Fantasy Game, Online Casino, and online bingo. Particularly in relation to Fantasy Games, the primary sports of engagement were football, basketball, volleyball, and American football.
The report cites statistics published in a recent study that indicates that when it comes to online casino, 78% of the participants indicated they play roulette. Blackjack also was highly popular resulting in 66% of the answers, 64% of the participants said they play table games, slots featured in 63% of game choices, video poker featured in 61% of the total votes, whilst 50% of the participants also indicated they play live dealer games.
“Brazil Betting Focus” also provides in-depth details of the profiles of local players, detailing their betting preferences, and also discussing how their wallet-share is allocated every month.
Read the full report HERE
