Zona de Azar Brazil – Brazil: BRL 68.2 Billion Was Bet on Gambling Sites from July 2023 to June 2024

Brazil.- September 3, 2024. www.zonadeazar.com A recent study by Itaú reveals that from July 2023 to June 2024, Brazilians sent BRL 68.2 billion to online betting and gaming sites. During the same period, bettors managed to withdraw BRL 44.3 billion, resulting in a net loss of BRL 23.9 billion.

This amount represents 0.22% of the country’s GDP, suggesting that for every BRL 3 wagered, Brazilians lose BRL 1. The research was conducted by economists Luiz Cherman and Pedro Duarte of Itaú Unibanco, based on data from the Central Bank. Annual losses were calculated from the external sector survey.

New Rules in 2025

Starting January 1, 2025, betting houses not authorized in Brazil will be subject to penalties. With only five days remaining before the deadline, a survey by Poder360 showed that fewer than 30 companies have applied for the necessary authorization.

According to PwC Strategy&, the number of betting companies in Brazil has increased significantly over the past three years. In 2020, there were 51 companies; in 2021, this number rose to 116, in 2022 to 239, and in the first quarter of 2023, it reached 308. PwC estimates that the sports betting market in Brazil moves approximately USD 1.7 billion annually, while the global market reaches USD 84 billion.

Well-Defined Regulations

On August 1, the Ministry of Finance published four new ordinances to regulate online betting, including sports betting and games such as slots, roulette, and crash. The new rules, which come into effect in January 2025, require platforms to suspend the use of bettors at high risk of addiction.

The growth of the online betting market in Brazil is significant, but the losses for bettors are equally concerning. The new regulations starting in 2025 aim to bring greater control and protection to users, seeking to reduce the risks associated with gambling.

Edited by: @_fonta www.zonadeazar.com