In an analysis of the growth of the sports betting market in Brazil, Aposta Hub published a study on the progress of the activity in the country, the increase in the search for the topic on Google and the interest of Brazilians in the entertainment offered by the main houses.
The sector, which moved BRL 7 billion in 2020, should reach BRL 12 billion next year, when the segment should be regulated. The study was reviewed by lawyer Ricardo Feijó, co-founder of Aposta Hub.
Of the Latin American countries, Brazil has the greatest potential for sports betting and online casino games due to its population size and strong internet usage culture. According to data from Agência Brasil, 152 million Brazilians have access to the internet, which corresponds to 81% of the population.
Other data that strengthen the Brazilian Market with great potential of betting are:
In this article, it is shown internet data of this billionaire market, how much it has grown in 2022 and a prediction of the future of online betting in Brazil.
TOP of MIND Bookmakers
Betting site brands are investing heavily in advertising in the country. They are displayed on football jerseys, in stadiums, at eSports events, on YouTube, in podcasts, and they are becoming more and more popular. But, what are the betting sites that do not leave the minds of Brazilians?
After a survey of more than 50 betting sites, among the more than 400 that operate in Brazil, here are the most searched bookmakers brands on Google in 2022. According to the search volume for each brand in the Ubersuggest tool, the 1st The most searched site is the giant Bet365, with more than 20 million searches per month.
The second brand in the ranking is Sportingbet, with 5 million searches, and Betano closes the Top 3, with almost 2 million searches per month. Then comes Betfair (4th), PixBet (5th) and EstrelaBet (6th). In the ranking is to highlight also the location of sites like Betsul (11th), Betmotion (12th) and 1xBet (14th).
After galera.bet (15th on the list), Bodog, Netbet, Rivalry, mrJack.bet, Brazino 777 and Leovegas are houses that appear with high search volume in the Top 25.
“Even based outside the country, bookmakers are focused on Brazil and are investing heavily in advertising in our country. As there is still no regulation, there is also no ban on advertising these sites, which further boosted the sponsorship of bookmakers in football teams,” explains Ricardo Feijó, lawyer and legal advisor at Aposta Hub.
Growth of online betting market in Brazil in 2022
The Brazilian betting market moved R$7 billion in 2020 and it is estimated that in 2023 it will reach the mark of R$12 billion.
Even amid economic crises, pandemic and other political instabilities, the betting market continued to grow. In fact, the number of Brazilian gamblers has jumped in recent months.
The monthly volume of online searches related to the sports betting and casino market proves this.
Data from the Google Trends tool shows that the search for the term “Casas de Apostas” (Betting Houses) has reached a historic peak in the last 6 months and the trend is to continue increasing.
The same goes for “Apostas Esportivas” (Sports Betting)
Sports betting vs online casinos
The vast majority of sites offer sports betting options as well as online casino games. However, sports betting in Brazil has a much higher volume of searches.
When analyzing the chart below, it is seen that both sports betting and online casinos have an upward trend in terms of search volume.
If it is compared the volume between these two terms, “apostas esportivas” (sports betting) has more than twice as much public interest compared to “cassinos online” (online casinos). This difference is understandable given that the preferred method of betting for Brazilians is Football.
Source: Industry Insights – Telecom, Education Platforms and Services – Globo | Research “Brazilian Player: the sports betting market in Brazil” Jun21
The term “cassino online” is less popular compared to “apostas esportivas” and “casas de apostas”. However, in more specific terms, searches for houses that offer casino games are extremely popular. Roulette is one of the most sought after games by gamblers.
The Blaze brand, which focuses on online casino games, has hit historic Google search peaks in recent months after highly rated influencers and podcasts such as Flow Podcast and Achismos promoted the site. In the last 6 months, the search for the term “blaze cassino online” has increased by 1650%. Its most famous modality is casino games, but the site also offers sports betting on the most popular modalities, such as football and basketball.
Search by Brazilian states
The state of Sergipe leads the search for the term “cassinos online” with 28% of searches in Brazil. Tocantins is the strongest in the search for “casas de apostas” with 72% of searches, and Rondônia wins for “apostas esportivas” with 66%.
The North and Northeast region of the country is the one that most searches for the Top 5 bookmakers in the ranking (Bet365, Sportingbet, Betano, Betfair and Pixbet)
Some of the Brazilian states that are most looking for these brands are: Amazonas, Acre, Bahia, Rio de Janeiro, Maranhão and Tocantins.
Sports betting market in the world
According to reports by Grand View Research, the betting market will be worth around US$63.53 billion in 2022, and the forecast for 2030 is US$153.6 billion.
Europe alone moves US$ 23.63 billion from the world market, and it is where several countries have legalized gambling, such as Italy, Malta, France, Spain and Germany. Then comes Asia, where China, India and Japan are the main countries operating in the betting market.
Some factors that stimulate the Asian growth of online betting are: increase and popularization of eSports, technological advances in the gaming industry, high speed internet with easy access and the use of cryptocurrencies as a payment method on betting sites.
Source: Market Share 2021 – Gambling Market
The Gambling Commission of England reports that the casino, bingo and online betting industry generates £6.9 billion in annual gross income. This corresponds to more than 45 million reais, of which £2.9 billion comes from slot games.
Online betting totals £2.6bn (£17m), led by betting on football (£1.2bn) and horses (£856.1m). Online bingo in the land of the queen is also successful, with a turnover of £189.1 million.
Future of sports betting market in Brazil
There are still many uncertainties surrounding the legalization of sports betting and gambling in Brazil. However, the market is getting stronger every day and the bookmakers have been consolidated in the Brazilian market through the sponsorship of football clubs. Today, almost all Serie A football teams are sponsored by bookmakers.
There are already some specific iGaming events, such as the BiS (Brazilian iGaming Summit), which brings together several players in the market, as well as means of payment companies, lawyers in the area, and media companies.
Sports betting is also being developed by state lotteries as they are considered a kind of lottery in Brazil. In fact, some states are authorizing companies to operate sports betting, such as the states of Maranhão and São Paulo.
There is still a lot of political debate ahead for regulation to be finally completed and sports betting legalized. While the regulation is not completed, the bookmakers operate in a gray area of the law, and continue with their operations in offices outside Brazil, such as Curaçao and Malta.
In the current scenario, wagering on betting sites hosted abroad is not considered a criminal offence, that is, Brazilians can bet online without taking any risks.
Source: Aposta Hub
