JUE 28 DE MARZO DE 2024 - 22:21hs.
André Gelfi, Su Aposta founding partner

Sports betting in Brazil can yield US$ 1.55 billion with legalization

The sports betting market in Brazil, currently estimated at between US$ 200m and US$ 300mn, can reach US$ 1.55 billion with the regulation of the law. In an interview with the DCI website, André Gelfi, founding partner of local betting site Su Aposta, explains how this should happen. The company already operates with horse races and wants to offer bets on other sports as soon as the Ministry of Finance authorizes the activity.

The sports betting market in Brazil, currently estimated at between US$ 200 million and US$ 300 million, can quintuple with the regulation of the law that allows the legalization, regulation and concession of betting lotteries in the country, that is, around US$ 1.5 billion per year.

"This is the potential for betting companies in Brazil," says André Gelfi, founder and partner of Su Aposta, the first sports betting platform licensed in the Brazilian market.

The company already operates with horse races and wants to offer bets on other sports as soon as the Ministry of Finance authorizes the activity.

Fixed quota prizes

Pursuant to Law 13,756 / 2018, issued by Provisional Measure 846/2018 and promulgated by former President Michel Temer (MDB) on December 14, the Ministry of Finance has two years, renewable for two more, to sports betting, which will cover football games, tennis, and volleyball, among others.

The sites can sponsor national teamsin official leagues and the bets will be by fixed odds, ie the bettor will know how much they can win if theyhit the results of the events. Betting homes will offer prizes according to probability of outcome.

Bring punters back

Consolidated in Europe and legalized in the United States, the sports betting market is already consolidated in Brazil for Brazilian bettors who, by prohibition, placed their bets outside the country, explains André Ghelfi.

According to him, the Getulio Vargas Foundation estimates that these bets total, from US$ 200 million to US$ 300 million per year. "And that is this value that can grow five times with the legalization of this activity here," emphasizes the founder-partner of Su Aposta, incubated in the Spanish Codere, the largest company in the sector in Latin America.

Without disturbing the lotteries

Sports betting will not compete with lotteries marketed in Brazil, as they are complementary activities, explains Ghelfi. "Whoever bets on a lottery and hits, that changes the economic level of the bettor. Already to hit the result of a match of soccer or tennis, this is entertainment. The value will be up to the taste of the client," according to the executive. "The bets start at US$ 1.3 and go up to wherever the bettor want to risk."

Su Aposta will now invest in team, product development and marketing to publicize the new game mode in the country.

Source: GMB / DCI