In recent years, iGaming has gone from being a “bet on the future” to becoming one of Brazil’s most vibrant industries.
By 2025, the sector is already moving BRL 17.4 billion (US$3.25bn) and has 17.7 million players on regulated platforms.
But in practice, the question that intrigues me most — and that should guide the decisions of anyone building this market — is not how much it grows, but where it grows.
And the answer, which I have followed closely since the launch of Bet do Milhão in July 2025, by Todos Querem Jogar (TQJ), the new regulated operator of the Grupo Silvio Santos, is clear: the true engine of Brazilian iGaming lies far from the capitals.
The interiorization of the market is not a passing trend, but a structural phenomenon that is redefining player behavior, conversion potential, and expansion strategies.
Today, 63% of bettors live outside major urban centers. In cities across the Northeast and Central-West, market penetration already exceeds 70%. The expansion of mobile connectivity, the widespread use of Pix, and the improvement of digital experiences have opened the door to an audience that, until recently, wasn’t even mapped by operators.
This audience is different: more pragmatic, more loyal, and driven by trust in the brand. When betting is transparent, safe, and accessible, it becomes entertainment — not risk.
In the Southeast, which still accounts for 46.9% of the market, volume remains high, but acquisition costs in capitals are rising fast, pressured by competition and market saturation.
The Northeast, on the other hand, with 26.4% market share, is today the most dynamic and digitally mature ecosystem in the country. There, 42% of players are aged 18 to 29, and regional campaigns with local influencers generate returns up to 3.2 times higher than generic communications — a reflection of an audience seeking connection, not just offers.
The South shows another interesting trait: loyalty. With an average retention of 8.4 months, players in this region have a more rational profile, valuing clarity, data, and well-explained odds over temporary bonuses or flashy incentives. Meanwhile, the Central-West combines a high average ticket (BRL 347/US$65 per month) with an audience connected to agribusiness and public service, which explains the high LTV (Lifetime Value) and predictable behavior.
In the North, there’s a scenario I consider emblematic of the future: lower acquisition costs, above-average conversion, and high churn at the same time. It’s the portrait of a market in full expansion — full of opportunity for those who know how to build relationships.
Regional analysis reveals that the new Brazilian digital bettor is mostly young (around 70% under 35), from classes C and D, and mobile-first. They place modest wagers (around BRL 20/US$3.75) but do so frequently. More importantly, they value local experiences, accessible language, and credibility.
That’s precisely where regulation makes all the difference. Operators who follow the legal path — with transparency and a focus on responsible gaming — not only protect consumers but also build the trust necessary for the industry to mature.
I often say that the challenge for iGaming in Brazil is not just to grow — but to grow the right way.
The interiorization of the market is a massive opportunity, but it requires care, sensitivity, and commitment. It is in small and mid-sized cities that betting needs to be understood as entertainment, not as a promise of income.
That’s why, when we talk about ROI, performance, and LTV, we can’t lose sight of the human context behind those numbers. Responsible gaming is not a limitation — it’s an accelerator of trust and longevity.
The data also show that regional campaigns deliver 37% more return than generic ones. Looking ahead to 2026 and 2027, I see a consolidation phase:
The North should surpass the Central-West in market share, online casino should grow more than 70%, driven by the Northeast, and the Southeast is expected to lose some share due to saturation in the capitals. At this pace, Brazil is on track to enter the global top 5 iGaming markets by 2030, with a projected GGR above USD 60 billion.
Brazilian iGaming is at an inflection point. The new frontier is not in the avenues of major cities, but along the roads connecting the interior to the digital world. If your strategy still targets only metropolises and generic campaigns, you may be aiming in the right direction — but missing the target.
The real map of growth has already changed. And as an enthusiast and advocate for the responsible development of the industry, I believe that mastering the margins is not just a growth strategy — it’s the only viable path to building a trustworthy, inclusive, and enduring market.
Leonardo Gadelha Sampaio
Chief Operating Officer (COO) – Grupo Silvio Santos
