According to the report, about US$ 1.7 billion returned to Brazil in the form of prize transfers for the winners of these bets residing within the national territory.
In reais, this total transfer of US$ 2.7 billion abroad is equivalent to R$ 13.7 billion, considering a dollar exchange rate of R$ 5.08. Maintaining this pace, annual transfers could reach close to US$ 11 billion, or around R$ 55 billion in national currency.
Since last January, balance of payments statistics has begun to give an idea – albeit not exact – of the amounts transacting in these international bets.
With the entry into force of the new foreign exchange law, the Central Bank began to demand that these resources be reported, in the statistics, with a different code, which allows a closer idea of the values of these international bets.
Until the end of last year, these bets were counted, for the purposes of balance of payments statistics, along with small purchases. Last year, these purchases totaled US$ 5.012 billion.
As of this year, amounts carried over on betting sites are now accounted for in two different accounts.
In an account, the so-called “cultural, personal and recreational services”, remittances are accounted for by way of remuneration of the companies that organize these bets.
Other operations are registered in the same account, so it is not possible to know exactly the volume of remittances to betting sites. But it is possible to have a very approximate idea of the values by the growth in remittances that occurred between the first quarter of 2022 and 2023.
This item showed an increase of US$ 587 million between one period and another, going from US$ 79 million to US$ 666 million. A good part of this difference, of US$ 587 million, is explained by accounting for the remuneration of betting sites.
There was also growth in the inflow of funds from abroad under this heading, of US$ 104 million in the first quarter, which is presumably linked to the remuneration of Brazilian companies that provide betting services abroad.
The other account that registers betting flows is the “other transfers” item, which is among the so-called secondary income. This account includes remittances abroad that will compose the pie that will be divided among the winners of the bets.
There are also other remittances that transit through this account, such as international donations of resources, so it is not possible to say exactly what is one thing and another.
But, due to the variation in flows between the first quarter of 2022 and the first quarter of 2023, it is possible to have a very approximate idea of what was sent by Brazilians on betting sites.
From one period to the next, remittances grew by US$2.129 billion, from US$195 million to US$2.320 billion. That is, Brazilians transferred around US$ 2.129 billion to the country for betting sites to form the pie that is shared among the winners.
On the other hand, around US$ 1.7 billion in prizes received by residents of the national territory entered Brazil.
Considering inflows and outflows, Brazil registers a deficit of around US$ 930 million in the first quarter in the betting sites. By way of comparison, the Brazilian deficit in international travel was US$ 1.526 billion in the period.
Source: Valor
