According to a new OpenBet report using data from H2 Gambling Capital (H2GC), Betano leads the betting market in Brazil with a 23% share, followed by bet365 with 20%. The local market is expected to become more competitive with the introduction of regulations starting January 1, 2025, and could reach US$ 10.1 billion in gross gaming revenue (GGR) by 2029.
Sports betting is forecasted to be more dominant than iGaming, representing 55% of the online GGR in 2025, with sports betting accounting for 86% of this sector's GGR.
Betting behavior shows that 50% of online sports bettors place bets weekly, with bet builders and in-play betting being significant revenue drivers.
Looking ahead to 2026, H2GC estimates 39 million active online accounts in Brazil, translating to a GGR of R$ 29 billion (US$ 5.16 billion).
This number represents 9% of the adult population, compared to 24% in the UK. Brazil's GGR per adult is lower than in established markets, but constitutes a notable percentage of the GDP.
The OpenBet report also includes findings from Neccton on player protection, emphasizing that setting deposit limits and personalized messages can effectively encourage responsible gaming.
Key points from the recent betting market report:
Market leadership:
- Betano leads the gray betting market in Brazil with a 23% share, according to a new report from OpenBet using data from H2 Gambling Capital (H2GC). bet365 follows with a 20% share.
Future market dynamics:
- With the betting market set to launch on January 1, 2025, the Brazilian market is expected to become highly competitive. H2GC projects that the onshore market could reach US$ 10.1 billion in gross gaming revenue (GGR) by 2029.
Market projections for 2025:
- Brazil's legal online sports betting and iGaming market is expected to be worth approximately US$ 5.6 billion in 2025. Of these, US$ 3 billion are expected from online sports betting and US$ 2.6 billion from iGaming.
Market trends:
- Sports betting is expected to dominate, representing 55% of the online GGR in 2025. Soccer, given its prominence in Brazil, accounts for 86% of the sports betting GGR and 78% of the turnover.
- Slots and crash games are expected to contribute 27% of the GGR, while live casinos and other iGaming sectors will account for 6% and 12%, respectively.
Betting behavior:
- Approximately 50% of online sports bettors bet weekly, 21% bet daily, and 29% bet occasionally. Bet builders are the main revenue drivers, with a margin of 21.5% on multiples, compared to 6.7% on singles.
Live vs. pre-game:
- Live betting is a significant contributor, representing 60% of the turnover, compared to 40% for pre-game betting.
Forecast for 2026:
- By 2026, H2GC estimates that Brazil will have 39 million active online betting accounts, generating an onshore GGR of R$ 29 billion (US$ 5.16 billion). The GGR per account is projected at R$ 745 (US$ 133). This represents 9% of the adult population, in contrast to 24% in the UK.
Comparative metrics:
- Brazil's onshore GGR per adult is US$ 34, significantly lower than in established markets like the UK (US$ 163) and New Jersey (US$ 592). However, as a percentage of GDP, Brazil's GGR is 0.12%, higher than the UK (0.09%) and Mexico (0.05%).
Insights on player protection:
- Research from Neccton highlights that players who set deposit limits are 18% more loyal. Short-term self-exclusions are effective, with 90% of players returning responsibly.
- Personalization in messages increases effectiveness by 100%, and 70% of online bettors find high-loss messages impactful.
To download the white paper, visit https://www.openbet.com/how-to-win-brazils-regulated-market.
Source: GMB
