The progress is significant, especially since this is the first time Brazil has been included in Regulus Partners’ ranking of the world’s largest markets—precisely because it is in its first year of regulation, which confirms that it remains a market with enormous growth potential.
“Brazil has tremendous economic power. The sports betting regulation that came into force earlier this year has contributed substantially to the country’s rise in the ranking of nations that generate the most revenue in the betting market,” says Bernardo Cavalcanti Freire, Legal Consultant at ANJL and partner at Betlaw, a law firm specializing in the sports betting sector.
“The regulated market—which creates jobs, pays taxes, complies with government requirements, and sponsors national sports—is beneficial to Brazil’s economy,” the specialist adds.
These numbers place Brazil very close to those identified as the world’s 3rd and 4th largest markets: Italy, with US$4.617 billion, and Russia, with US$4.515 billion. The United Kingdom ranks 2nd, with US$9.901 billion, while the United States stands prominently in 1st place, with an estimated net revenue of US$17.312 billion.
Behind Brazil are Australia, with US$ 3.660 billion, Canada, with US$3 billion, France, at US$2.890 billion, South Africa, with US$2.520 billion, and Germany, at US$1.900 billion. According to the BBC, the projections were based on financial reports from publicly traded companies and available information on the amounts transacted in the sector, already adjusted for taxes.
“Brazil is a major country with strong economic power and a rapidly developing sports betting market. Without a doubt, it has enormous potential for a regulated, responsible, and entertainment-driven gaming market to thrive. The betting sector has high expectations for the success of the Brazilian market,” says Alex Rose, CEO of InPlaySoft, an international sports betting technology company.
According to industry specialists, several factors contributed to the country’s exponential growth in recent years—especially during the COVID-19 pandemic between 2019 and 2020—and the introduction of Pix, starting in 2021, which facilitated fast and instant user payments.
However, advances brought by regulation in the country starting in January this year—and the series of strict measures that came with it—have provided bettors with a sense of safety, transparency, and responsible gambling.
“The Brazilian market has always shown enormous growth potential, something recognized by both national and international operators. The results achieved in the first year of regulation reinforce this perception and demonstrate the maturity and capability of the sector to operate with cutting-edge technology and highly qualified professionals—in levels comparable to the world’s main markets, such as the United States and the United Kingdom,” says Nickolas Ribeiro, founder and Chairman of Ana Gaming.
“Everyone is aware of Brazil’s economic strength. With regulation, our sector has generated jobs, stimulated the economy, supported national sports and culture, and contributed to society through tax revenue. Of course, it is still a young and maturing market, but it is extremely promising and, in some cases, already seen as a reference when discussing South America,” says Rafael Borges, CEO of Reals, master sponsor of Coritiba.
“This progress is a direct result of a safer, more transparent, and responsible environment that benefits both operators and bettors. Regulation brought not only credibility, but also a solid foundation for the industry’s sustainable growth, allowing companies to invest in technology, innovation, and responsible communication,” says Vitor Silveira de Andrade, CAO of 1PRA1, the master sponsor of Avaí.
“We are part of a new generation of companies that believe in entertainment as a positive experience—one that brings together fun and consumer respect. I believe Brazil has everything it needs to become, in a short time, a global benchmark in regulation and best practices in the sector,” the executive adds.
Source: GMB
