The Report indicates that whilst up until now the local regulated sports betting market is limited to horse racing, the local industry is greatly targeted by grey market operators. In fact whilst the size of the offshore market is up for debate, according to a 2017 report from the Brazilian Legal Gaming Institute (Instituto Jogo Legal) the illegal gambling market and not just the online, was worth up to $6.4 billion in Gross Gaming Revenue terms.
All this whilst a report commissioned by the Remote Gaming Association (RGA) and conducted by KPMG in late 2017 estimated the offshore online grey market to be worth $2.1 billion annually in GGR terms.
Regulatory aspects aside, Brazil is considered as a very interesting prospect and is considered to have all the elements in place to project itself as the largest market in Latin America, and one of the largest on a global scale.
In its Industry Report BtoBet gives deep insight regarding the demographic data, internet penetration and mobile connectivity. In-depth statistical information is also provided regarding the financial inclusion factors that characterise the country, and which provide key information for operators on the approach they need to undertake to attract the local players.
BtoBet also delves into the different regulatory approaches that are being considered by the local authorities, with the report including insights from the International Betting Integrity Association (IBIA) regarding how the type and level of taxation significantly influences the size and product availability of the licensed betting market and is an important driver of market growth, structure and consumer attraction.
Ultimately “Brazil Betting Focus” also studies the Colombian model, and how the local industry in Colombia has experienced huge growth in a relatively short period of time once the authorities launched the new regulatory framework.
All those operators who would like to gain access to deeper information should download the “Brazil Betting Focus” industry report.