Our "vira-lata" complex made us, for a long time, attribute a pejorative bias to news and indicators that displease or go against our prejudices and personal opinions.
With the explosion of igaming and betting, I, who didn't make my career in this sector (or at least I don't come from it), see many analyzes taken from this perspective... associating possible low education or intellectuality of Brazilians with "betting fever." Everyone has the right to an opinion and to express it, but in this case "just because it's Brazil..." doesn't work.
According to recent data from Comscore, Brazil appears as the third largest market (AUDIENCE - not revenue). Looking at the population ranking, excluding China and Muslim countries, where there is a major ban on betting due to religious reasons or local government definitions (with the exception of India as it is still lower on the scale of economic development and internet access).
For example: e-commerce in India is slightly more than double that of Brazil with a population almost 7x larger than ours; It would therefore be obvious for Brazil to have a prominent position in this global market. We cannot underestimate Brazilians' affinity with luck and betting products; It is intrinsic to our culture.
However, the data shows that we are still quite far from the large and consolidated markets. Looking at relative indicators (excluding the country's wealth or exchange rate), recent data from the Central Bank of Brazil point to total spending on sports betting and online casino of around R$50 billion (US$ 9.85bn) for a GDP of R$10.9 trillion (US$ 2.15bn), obtaining a share in the economy of less than 0.5% of GDP. This is relevant for a completely new economic sector, but well below data from more developed and consolidated markets.
Taking the state of New York as an example, which reached the mark of US$ 19 billion moved ONLY in sports betting (online casino usually represents around 70% in this type of operation) for an economy of US$ 2.2 trillion (0, 86% participation); adding online casino NY tends to have triple the penetration/GDP of Brazil - here I am ignoring absolute data and exchange rate effects.
My conclusion is that it's time to use the tacky jargon of "only in Brazil", and analyze the data and market nuances a little better. In this case, a new industry emerges, that of iGaming, with great prospects for the Brazilian market in the development of technologies, generation of jobs and foreign exchange for the Union.
Marcio Malta
Sorte Online - CEO
