As the largest country in LatAm with a population of over 211 million, Brazil is considered one of the most lucrative markets in iGaming across the region. Data shows a significant increase in industry revenue in 2022 and 2023, mainly thanks to the launch of sports betting and online casinos. This has excited people, who have embraced the sector, whether for entertainment or a chance to earn extra income. Atlaslive presents detailed and in-depth numbers in this article.
Why were 2022 and 2023 such crucial years for the growth of the iGaming market in Brazil? In 2018, a law was passed to allow online sports betting, but the lack of regulation held back the market.
Moving forward to 2022: President Luiz Inácio Lula da Silva enacted Provisional Measure No. 1182, putting the 2018 law into effect and officially legalizing sports betting across the country.
Then, in December 2023, the Brazilian Chamber of Deputies approved a bill to regulate online gambling, including online casinos, introducing a tax on online betting profits as part of the regular regulatory framework.
Today, new regulations in Brazil require iGaming operators to meet strict compliance standards. While this means more rules to follow, a well-regulated gambling market brings many advantages.
Atlaslive is actively exploring the potential of this market and its benefits for all industry participants. Moreover, the company monitors regulatory changes and strictly adheres to all legal requirements to ensure that our business operates within a safe and legal framework.
Understanding the market deeply is a powerful tool for building a smart and flexible iGaming platform that can meet the specific needs of any country, region, or continent.
This article is a valuable source, offering accurate and up-to-date statistics, insightful analysis of key industry metrics, and a clear view of the Brazilian trends driving the iGaming sector.
Boom in betting in Brazil and a detailed analysis of GGR and ARPU trends
Source: Statista 2024
This chart clearly shows the impressive peaks in Brazil's GGR growth in 2022-2023, as mentioned earlier, along with the factors that influenced this sharp increase.
These peak values are the highest not only in the region but also worldwide, indicating that players in Brazil had a strong interest in new types of gambling. However, the GGR growth rate drops sharply after these peak periods.
Brazilian fans are passionate about soccer and follow their favorite teams and players closely. When online sports betting was legalized in 2022, these same dedicated fans moved from cheering on the field or behind screens to actively placing bets.
This increase in revenue is unique, a phenomenon that the world has not seen replicated in any other country. Before these changes, there was an option for online lottery, but it never gained many followers and remained at a stable level without significant growth.
Source: Statista 2024
Interest in sports betting and online casinos in Brazil is expected to remain high, with Gross Gaming Revenue (GGR) continuing to grow. Online sports betting, in particular, is showing faster and more stable growth, especially since the peak in 2022. This trend suggests a strong demand for sports betting among Brazilian players, likely driven by the popularity of various sports, especially soccer, and major sporting events in the country.
Since 2023, Brazil leads the growth of GGR in South America, contributing about 40% of the total GGR of the region. This makes Brazil a crucial focus for investment and market development to ensure the overall success of online gaming in the region.
By 2028, Brazil's GGR is expected to reach $3.63 billion, nearly half (45.1%) of the expected GGR of the region of $8.04 billion, underscoring its key role in the iGaming environment of South America.
Source: Statista 2024
When it comes to Average Revenue Per User (ARPU), active growth is expected in the category of online sports betting, despite the slower growth of GGR after 2023.
Meanwhile, interest in lotteries is expected to gradually decrease each year. Overall, Brazil's ARPU will see significant growth after 2023, reaching $1,576 by 2028, which is well above the regional average ARPU.
This indicates that Brazil has considerably higher spending per user compared to other countries in South America, making it a key market. In 2023, Brazil's total ARPU reached $366, already surpassing the regional average of $281. From this point on, the gap between Brazil's ARPU and the regional average widens even further.
In 2025, 79.5% of the growth in GGR will come from an increase in average spending, while 20.5% will be due to an increase in the number of unique players.
Breaking this down by category, online sports betting will contribute 58% to the growth of GGR, and online casinos will be responsible for 38%. By 2028, the share of GGR growth driven by online sports betting will increase to 71%, still largely motivated by increases in ARPU.
Users in the Brazilian iGaming market as a key asset
Source: Statista 2024
Despite a slower growth rate, the total number of players in Brazil continues to increase, albeit at a more gradual pace, showing that interest remains stable. The category of online sports betting leads with the highest number of players in all categories, especially since 2022, underscoring its popularity and substantial contribution to the overall growth of Brazil's player base.
In the case of Brazil, even modest penetration rates point to promising growth potential, considering the impressive increases in GGR and ARPU. With the country's large population, this seemingly small percentage represents about 2 million players, and it is a compelling statistic.
Starting with the basics, the feedback on active players reveals insights by gender and age. Both primary gender groups are almost equally represented, despite some contradictory findings in previous industry studies.
The reported average age is 39.24. In recent years, various segments of the consumer market have highlighted that mass digitalization has involved more demographics than ever before. The largest age group is 25 to 40 years, with more than half (57%) under 49 years. Additionally, there is a substantial presence of middle-aged players and bettors, with the age group of 41 to 56 years representing more than a quarter of the total (28%).
The role of sports betting in revenue growth and Brazil's favorite sports
Soccer is deeply intertwined in Brazilian culture, making it the most beloved sport in the country. Almost everyone has a team they passionately support. The two biggest clubs, Flamengo from Rio de Janeiro and Corinthians from São Paulo, each have fan bases that exceed 30 million, underscoring the popularity of soccer.
With daily betting opportunities, soccer fans in Brazil can place bets on a wide variety of leagues and tournaments. From Brazil's Campeonato Brasileiro Série A and Argentina's Primera División to the prestigious Copa Libertadores and major European competitions like the Premier League and the Champions League, soccer betting remains at the core.
Mixed martial arts (MMA) have also captivated Brazil, enjoying widespread popularity that has fueled a significant betting market. MMA is the second most popular sport in Brazil for online betting, right after soccer.
Basketball has its own place among Brazilian fans, thanks to well-known players like Leandro Barbosa, Nenê, and Tiago Splitter, who have represented Brazil in international leagues. This legacy has fostered interest in basketball betting, both locally and internationally.
Additionally, volleyball, influenced by Brazil's vibrant beach culture, is another fan favorite. Brazil's national teams are consistently ranked among the best in the world, making volleyball a popular sport not just for fans, but also for bettors.
Trend of digital payments in Brazil and the growing connectivity
Digital payment methods are on the rise in Brazil, and with the rollout of 5G networks, the landscape for online casinos is brighter than ever.
Cryptocurrencies are also becoming extremely popular, with more users gradually adopting them.
Although the boleto has been Brazil's preferred payment method for a long time, Pix has become the trendsetter in the past two years. Currently, about 90-98% of payments in Brazil happen through Pix using QR Code. The simplicity of Pix, which allows one-page transactions, has truly transformed the market.
Atlaslive offers over 250 payment options, including cryptocurrencies, tailored to meet the demands of versatile gambling markets. The Atlaslive Payment Hub is not just a gateway; it is a comprehensive solution that connects operators with major local payment options.
Atlaslive has a skilled team that continuously updates, optimizes, and adapts its systems, providing full and ongoing support to help partners succeed.
Potential of iGaming in Brazil: Key findings from Atlaslive
The Brazilian iGaming market has enormous potential, with its sports-loving population eager to connect with online gaming platforms. But there are also challenges, such as intense competition and complicated regulations.
To succeed, operators need a smart approach—a strong sports betting software, a feature-rich casino platform, and solid regulatory compliance are essential.
The Atlaslive iGaming platform was created to help businesses navigate these challenges, offering customizable solutions. With powerful tools and a dedicated support team, Atlaslive makes it easier for partners to explore the growing iGaming market in Brazil and build a strong position in this exciting world with interested and active players.
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This document is provided to you for your information and discussion only. This document was based on public sources of information and was created by the Atlaslive team for marketing use. It is not a solicitation or offer to buy or sell any gambling-related product. Nothing in this document constitutes legal or business development advice. This document was prepared from sources that Atlaslive believes to be reliable, but we do not guarantee its accuracy or completeness and do not accept responsibility for any loss arising from its use. Atlaslive reserves the right to correct any errors that may be present in this document.
Source: Atlaslive
Atlaslive, formerly known as Atlas-IAC, underwent a brand repositioning campaign in May 2024. It is a B2B software development company. The company specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators.
The main components of the Atlaslive platform include sports betting, casino, risk management and anti-fraud tools, CRM, bonus engine, business analytics, payment systems, and retail module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology.
