RIO DE JANEIRO, BRAZIL – 2022 could be the year that the “dormant giant” Brazil wakes up, thus giving rise to the jurisdiction becoming one of the largest gambling markets in the world. In its most recent report, BtoBet dove into the growing potential of the Brazilian market should the talks of regulation be finalized soon.
Brazil, which has the largest consumer base in Latin America and a population attracted to gaming, presents numerous opportunities for gaming operators to expand their presence.
However, the local government has to decide on the number of licenses it will grant and the regulation terms.
The report details that, “although progress has been slow, there is a great expectation that, once regulated, the local sports betting industry could become one of the most lucrative worldwide”.
On the other hand, the world of e-sports, which is linked to betting, already ranks as the third-largest customer base in the world with 30 million players.
“This shows the appetite among Brazilians for gambling entertainment and supports forecasts of a dramatic expansion of the market once gambling is legalized,” BtoBet detailed.
This month, the lower house of the Brazilian Congress will prepare to vote on sports betting and lottery regulations that could pave the way for the market to grow further.
Having generated revenues of R$7 billion (US$1.4 billion) by 2020, the gaming industry could serve as a steady source of income for the government and, at the same time, create many new jobs.
BtoBet’s report also provides an in-depth analysis of local player behavior. It indicates that local players also wager on the federal lottery, fantasy sports, online casinos, and online bingo. Concerning fantasy gaming, the top sports for gamblers are soccer, basketball, volleyball, and football.
The report cites statistics published in a recent study showing that when it comes to online casinos, 78% of participants play roulette. Blackjack was also very popular, as it was involved in 66% of the responses. Sixty-four percent of participants said they play table games, while slots appeared in 63% of responses, video poker in 61%, and live dealer games in 50%.
“Brazil Betting Focus” provides details of local players’ profiles; their betting preferences; and discusses how their participation is distributed every month.