Brazil’s newly regulated playing market attracted 17.7 million bettors within the first six months of the yr.
Brazil enacted Regulation No. 14,790/2023 (the “Regulation of Bets”), which established a federal regulatory framework for fixed-odds sports activities betting in January of this yr.
A report launched by the Ministry of Finance’s Prizes and Betting Secretariat (SPA-MF) revealed that round 8% of Brazil’s 212 million inhabitants positioned bets underneath the brand new sports activities betting laws.
Esports betting has been authorized in Brazil since April. Picture Credit score: Chris Boland/Unsplash
Gamblers can now formally wager on esports after Brazil’s Ministry of Sports activities issued Ordinance No. 36 in April, which explicitly allowed authorized betting on occasions.
Stricter guidelines round licensing have resulted in over 15,000 web sites being blocked since October of final yr. There at the moment are solely 78 licensed betting firms, working a complete of 182 platforms.
Regis Dudena of the SPA-MF acknowledged, “This report has very important significance for regulation. It supplies factual knowledge on supervision, management, and market efficiency, transferring from estimates to concrete proof.”
Brazilian Market Generates Substantial Tax Income
The licensed betting firms generated a complete of R$17.4 billion ($3.2 billion) within the first half of the yr. Of that, the nation collected R$3.8 billion ($700 million) in federal taxes.
Entain, one of many largest operators within the nation, reported development of 21% within the newly regulated market this yr. The corporate explicitly focused the nation as an space for future development in its H1 earnings report.
Flutter additionally noticed income develop within the nation following the acquisition of NSX, the corporate behind BetNacional.
Within the firm’s Q2 earnings report, CEO Peter Jackson acknowledged, “The Brazilian market stays extremely aggressive, and we retain a powerful conviction that scale operators with the very best merchandise will win the biggest share of the market.“
Lawmakers Suggest Tighter Restrictions
Bettors wagered a mean of R$164 ($30) monthly within the first half of the yr. However, there have been calls to introduce a cap that might restrict the quantity gamers can legally wager.
Lawmakers have proposed capping the betting restrict on the similar quantity as Brazil’s minimal wage, which is round R$1,500 (approx. $290) monthly.
A invoice launched within the Senate final month additionally proposes elevating the minimal betting age from 18 to 21 years previous.
Over 22% of bettors within the first half of this yr have been aged between 18 to 25. The most important group of gamblers was aged 31-40 (27.8%), and 71% of bettors have been male.
Moreover, the invoice proposes a ban on playing sponsors in sports activities. With esports betting authorized, betting firms have agreed offers with esports groups. Betway was previously significantly energetic in Brazilian Counter-Strike, sponsoring MIBR (Made in Brazil).
