The betting market in Brazil has changed a lot in recent years, driven by “bets”. A study by Caixa Econômica Federal shows that the growth in betting does not negatively impact lotteries, which coexist in a balanced way, without direct competition between them.
Increase in lottery numbers
Until October 20, lottery revenue totaled R$19.24 billion, surpassing the total of R$16.7 billion in 2019. This growth reinforces the growing interest of Brazilians in the sector.
Despite the pandemic, lottery revenue continued to grow. In 2020, it was R$17.11 billion and rose to R$18.49 billion in 2021. In 2022 and 2023, the value exceeded R$23 billion, showing continuous growth.
Caixa’s forecast for 2024 is even more optimistic. The expectation is that revenue will reach R$26.1 billion. If this target is achieved, it will represent a real increase of 19% compared to 2019, the year in which the activity began in the country after legalization in December 2018, changing the betting landscape in the country.
Transfers and social impact
The increase in lottery revenue also translated into a significant increase in funds allocated to several essential areas. The law determines that the government allocates part of the amount collected to areas such as sport, culture, social security and public security.
In 2019, lotteries allocated R$7.92 billion. So, for 2024, the projection is even more ambitious, with an estimate of R$12.27 billion in transfers, of which R$9.04 billion has already been transferred.
The scenario highlights the popularity of lotteries in the face of the increase in betting games and the social importance of the financial resources they generate. Thus, with an increase in transfers, it is expected that more investments in critical areas will contribute to the development of Brazil.
Therefore, this shows that lotteries have their function and their space guaranteed even with the advent of online betting. In this way, the combination between the tradition of lotteries and the modernization of betting appears to create an environment conducive to the growth of the sector, benefiting society as a whole.