Brazil's online gambling market: growth data in 2022
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A report published by the Brazilian site Apostahub shows the significant growth of the online gambling market in recent years. Online gambling is not yet regulated in Brazil, but foreign bookmakers are expanding their business in the country. The regulation is expected to be finalized by end of 2022.
According to Agencia Brasil, 152 million Brazilians have access to the Internet. The esports market in Brazil is one of the largest in the world, only surpassed by the United States and China. Flamengo and Corinthians have more than 30 million fans each. 67% of Brazilian's gamble online for entertainment and fun.
The esports market in Brazil is one of the largest in the world. Flamengo and Corinthians have more than 30 million fans each. 67% of Brazilians gamble online for entertainment and fun. Soccer is the most popular sport in that country.
The Brazilian betting market recorded transactions of R$ 7 billion in 2020 and is expected to reach R $ 12 billion by 2023. Google Trends data shows that searches for the term "bookmakers" reached an all-time high in the last six months. Betano's site in Brazil has registered approximately 18 million visits in last three months, which is directly linked to the increase in number of users.
The majority of websites operating in Brazil from outside the country offer sports betting and online casino games. Sports betting has a much higher search volume than online casinos.
"Sports betting" is more popular than "online casino" in Google searches. The preferred betting modality for Brazilians is soccer. In more specific terms, searches for sites offering casino games are extremely popular.
Sergipe leads the search for the term "online casinos" with 28% of searches in Brazil. Tocantins is the strongest in the searches for "bookmakers" and Rondônia wins in "sports betting". The north and northeast regions of the country are the ones with the highest demand for top five bookmakers.
There is still no regulation of sports betting and gambling in Brazil. Bookmakers are investing a lot in advertising in the country. Almost all Serie A soccer teams are sponsored by bookmakers. There are already specific iGaming events, such as the BiS (Brazilian igaming Summit), which held its second edition in June. Some states are authorizing companies to operate sports gambling.
Gambling on foreign-hosted gambling sites is not a criminal offense in Brazil. It is recommended to check if the site has a license to operate in your home country.
