Unlike the United States, where there is no single national lottery, but licenses granted by individual states, the New York lottery is one of the operators in the country, administered by the New York State Gaming Commission.
In Brazil, according to information from Caixa Econômica Federal, Brazilians bet around R$ 23.3 billion (US$ 4.8b) in Caixa's lotteries. This record amount represents an increase of 25.7% compared to the results of 2021, which totaled R$ 18.5 billion (US$ 3.85b).
Despite the increase, bets in Brazil correspond to half of the result of the New York lottery. “There are two main reasons for this significant difference. First, the percentage allocated to winnings in the New York lottery is higher than in Brazilian ones, which attracts more players. In addition, the lack of innovation in games and in the forms of player acquisition in Brazilian lotteries also contributes to this disparity,” explains Cristiano Maschio, CEO of Qesh, a company specialized in payment management.
“While lotteries usually only have one or two draws per week, today's digital and fast-paced world has people wanting more options. In Brazil, there are already projections of a sports betting market valued at around R$ 70 billion (US$ 14.5b), almost three times larger than the lottery market in the country. One of the main drivers behind the growth of the sports betting market in Brazil was the invention of the pix system, which made payments faster,” adds Maschio.
According to the executive, the growth of sports betting in the United States, companies like FanDuel and Draft Kings, holders of licenses there, invest heavily in the user experience.
“Unlike lotteries, sports betting offers the ability to bet daily, anytime, and features like live betting make the experience even more exciting for users. Players are also looking for faster payouts and updated stats,” concludes the Qesh executive.
Source: Veja
