The online betting market in Brazil is booming. According to the Central Bank‘s new balance of payments, from January to April 2024, Brazilian bettors sent an impressive US$3.7 billion to international bookmakers.
This value exceeds by 32.14% the amount for the same period of the previous year, which was US$2.8 billion.
This upward trend reflects the impact of the regulation of sports betting and online gaming in the country. In other words, since the Brazilian government legalized this practice, the numbers have continued to grow, demonstrating an increasingly robust and representative market.
Numbers in the online betting market grow annually in Brazil
The prizes received by bettors are also on the rise. From January to April 2023, bookmakers distributed US$2.7 billion in prizes; in the same period of 2024, premiums skyrocketed to US$3.5 billion.
But how much did bookmakers earn from this increase? The data shows that operators made a profit of 768 million dollars in 2023 and surpassed the 1 billion dollar mark in 2024. Thus, growth in the period was 30.20%.
In any case, the companies are still in the process of regularization and are expected to start operating only in 2025. Taxation and, consequently, revenue from online betting is expected to only start next year. Therefore, it would only be in 2026 that the government would begin to see this money reaching public coffers.
Therefore, the government’s rush to immediately approve online betting and casino games in Brazil. The betting tax must be 12% of the Gross Gaming Revenue (GGR), therefore, if taxes were already collected this year, the government would have an expected revenue of approximately US$120 million.
This represents 12% of the US$1 billion that has already been paid by players to bookmakers in the first 4 months of 2024.
Therefore, with effective regulation expected for next year, the scenario is promising. Because the online betting market has proven to be not only profitable for players and operators, but also for the Brazilian economy.
