Zona de Azar Brazil – Brazil: Brazilian Betting Market Continues to Grow in 2024
Brazil.- June 19, 2024 www.zonadeazar.com The betting sector is growing in Brazil. In the first four months of this year, “Brazilians bet 30% more” compared to last year.
According to research by Aposta Legal Brasil , from January to April, more than US$3.7 billion were sent by Brazilian bettors to online betting houses – 32.14% more than the value for the same period in 2023 (US$ 2.8 billion).
“The numbers were compiled by Aposta Legal Brasil and are from the Central Bank’s balance of payments,” the website reported.
The total value of premiums in the same period also grew, reaching US$3.5 billion. In 2023, it was US$2.7 billion.
Consequently, the revenue of bookmakers increased. From January to April 2023, according to data from Aposta Legal, “operators earned US$768 million”. This year, in the same period, the platforms exceeded US$ 1 billion in the amount raised. The amount represents a growth of 30.20% – “almost the same percentage of bets that have increased” in Brazil “from a year ago”, highlighted Aposta Legal.
The website concluded that “the betting market in Brazil is really profitable and should generate a strong impact on the economy soon”. Aposta Legal calculated that, if the government had already collected the taxes defined in the Law, it would have received approximately US$12 million in just the first four months of 2024.
Betting regulation and the growth of the sector in Brazil
After the start of betting regulation in Brazil, in December last year , the sector began to be developed legally throughout the national territory.
Currently, different state lotteries can now operate in the country, offering different types of betting, such as the Rio de Janeiro State Lottery ( Loterj ) and the Paraná State Lottery ( Lottopar ) .
The Minas Gerais State Lottery ( LEMG ) and the Mato Grosso do Sul State Lottery ( Lotesul ) are still in the process of being able to offer sports betting and online games in their respective territories.
Loterias Caixa , in order not to be left behind, is looking for innovations. According to CEO Lucíola Aor Vasconcelos , the authority is analyzing the possibility of launching lottery products to face competition in the Brazilian betting market.
For Vasconcelos, lotteries are activities different from “a banking business”, which is why the agency [Loterias Caixa] was created exclusively to provide lottery services.
Furthermore, at the end of May, São Paulo councilors approved the creation of the Campinas Municipal Lottery ( Locamp ) . Shortly afterwards, the president of Lottopar expressed dissatisfaction with the situation. Daniel Romanowski published an article , taking a stance against municipal lotteries.
For the president of the municipality, state lotteries will be beneficial to municipalities and the Union, as they will boost the economy and create jobs.
However, companies authorized to operate must follow the provisions of Federal and State Laws and State Decrees, so as to guarantee legal certainty for all licensed operators.
Romanowski also highlighted that municipalities do not have the competence to create their own lotteries and stated that, from his perspective, municipalities do not have the market size for municipal lotteries.
Match manipulation in football
Another issue that has been discussed a lot in recent months, especially after the start of market regulation, is the manipulation of results in Brazilian football.
A Parliamentary Commission of Inquiry (CPI) was created to investigate reports of fraud in sport. The CPI for the Manipulation of Sports Betting and Games, popularly known as the CPI for Betting, is collecting several testimonies to clarify possible irregular situations in football.
In April this year, John Textor , majority partner of SAF Botafogo de Futebol e Regatas, “ reaffirmed that he had evidence of match-fixing in Brazilian football”. Textor delivered a 180-page report to the president of the CPI, Jorge Kajuru , and was available to the Commission for five hours.
Since then, the CPI has heard representatives from the Brazilian Football Confederation (CBF) and the president of Palmeiras, Leila Pereira , who contested Textor’s allegations. Lucas Paquetá was also invited to testify and, later this week, José Francisco Manssur , former special advisor to the Ministry of Finance, is expected to testify to the CPI.
Editó : @_fonta www.zonadeazar.com
