There are more people who place sports bets in Brazil than invest in the Stock Exchange, according to a survey by Investidor Brasileiro, carried out by Anbima (Brazilian Association of Market Entities). The survey says that 14% of the population (around 22 million people) made at least one bet online in 2023. The percentage of people who invest in the stock market is 2%.
The only investment that is "bigger" than bets is savings, which is made by 25% of the population.
Who is the betting public?
The majority are in classes A, B and C. There is a predominance of men (63%) and belonging to generation Z (born between 1997 and 2010), followed by millennials (between 1981 and 1996).
“They are mostly men and, because they are younger, they are very familiar with digital platforms. Furthermore, there is a taste for adrenaline,” Marcelo Billi, superintendent of sustainability, innovation and education at Anbima.
Among gamblers, the survey shows, 43% invest in financial products via the bank's app. Among the investments most used by this audience are: savings (21%), digital currencies (12%) and private bonds (7%).
Betting is an investment for some
Something that caught Anbima's attention was the fact that among those interviewed there were people who consider placing sports bets to be an investment: 22% of those interviewed said they placed bets as a way of making money.
“The concept of public investment is very broad. There are people who think that having a cosmetic procedure, paying for a course or buying a suit is an investment. In general, people think that anything that can give an emotional or short/medium-term return to an investment is an investment,” says Marcelo.
With bets, he explains, the same thing happens. "If the person thinks that it can give a return, they call it an investment. It is in this aspect."
Among those interviewed, 40% of those who place sports bets consider it the chance to earn quick money in times of need.
The technical definition of investment is an application of money that is expected to increase in value in a determined future. Therefore, goods and services do not apply, as they are an expense, even if they bring a return.
Lesson for the industry
The investor's X-ray survey is in its 7th edition, and according to Billi, the subject of sports betting recently entered the scope of the survey. "We didn't consider a betting platform as a competitor to an investment product until we started the research," he said, citing a previous qualitative survey with some people, where they found that sports betting was a "phenomenon" and started to consider the topic on the X-ray.
Marcelo mentions that institutions have something to learn from these platforms. “First, there is a familiarity. They deal with sports, like football, which people really like; and in the world of finance we cannot copy. Now, on our part, we have to reduce complexity. Choosing where to invest is complex and we have to make this task less hostile with a better choice architecture for clients. Furthermore, registration is quick and they [sports betting sites] use graphs and tables, almost as if they were an investment terminal.”
Betting money worries retailer
Belmiro Gomes, CEO of Assai, expressed concern about sports betting in the financial results of the second quarter of last year. The executive mentions that the money invested in betting is influencing the purchasing power of his customers.
“We have done a lot of research, we have seen that there were some other new expenses that entered this consumer's pocket. And as a consumer he is very pressured by interest. As incredible as it may seem, the sports betting market also appears a lot now, as well as something that takes away a lot of this consumer's income today. And he has not been able to resume his purchase volumes,” said Gomes.
Another survey last year, carried out by Instituto Locomotiva and focused on classes C, D and E on sports betting, shows that among those who play once a month, the average spent is R$56 (US$ 10.7). Furthermore, the money that it used to be directed towards savings and spending on bars, restaurants and takeaways are the main sources for betting.
Source: UOL
