Sports betting platform provider BtoBet on Wednesday announced the publication of its latest industry report ‘Brazil Betting Focus’, in which it analyzes the opportunities posed by this market once it opens for business.
The report reviews the regulatory situation in the Latin American country, which many industry experts expect to be fully regulated by this year. It also provides detailed information on the psychographics of players and the content that generates the most engagement.
The statistics provided by BtoBet’s industry report focus on an overview of the market, its sports betting vertical, player preferences, player profiles and player wallet share.
BtoBet’s report shows that, with sports betting regulation, the country could become one of the world’s leading markets based on its population size and cultural inclination for sports.
Citing a study recently published by Grupo Globo, Latin America’s largest media group, in 2020 the sports betting market generated revenues of R$7 billion (US$1.3 billion), despite the pandemic-induced hiatus in sporting events.
The study also indicates that, between 2018 and 2020, the market grew from BRL 2 billion (US$ 387 million) to BRL 7 billion.
The psychographics of players after COVID-19.
27% of respondents have indicated that, during the pandemic, they have increased their gambling activity, while 18% of respondents stated that their gambling behavior was not affected.
22% of the participants have said that they have opted for less risky bets, while 21% have also decreased the amount wagered on bets.
18% responded that they bet daily, 16% bet 4 to 6 times a week, 48% indicated that they bet one to three times a week, and 18% bet two to three times a month, or less.
Gambler engagement was also affected by the pandemic. More than half of the participants responded that they placed their first bet after the onset of COVID-19. Fifty-nine percent stated that they started gambling no more than a year ago.
While the country’s population amounted to 213.3 million in January 2021, mobile connectivity amounted to 205.4 million connections. Thus, the number of mobile connections is equivalent to 96.3% of the total population. The number of connections fell by 2.7 million (-1.3%) year-on-year.
In terms of the most popular sports to bet on, soccer was the most popular sport with 81% of the total choices, basketball received 33% of the total responses, eSports followed with 29%, poker with 26% of the total responses, MMA had 23% of the total responses, volleyball was chosen by 23% of the participants, 21% also chose horse racing, boxing received 21% of the total choices, 21% chose American soccer, while tennis closed the list with 19%.
“The liberalization of gambling laws in Brazil has been a point of discussion and an area of great interest for some time, with a number of foreign companies poised to enter the market. 2022 looks set to be the year this sleeping giant wakes up. And it has everything to do so successfully, having the largest consumer base in Latin America and a proven propensity to gamble,” the company states in its report.
“In this sense, there is no doubt that Brazil has great potential to explore the gambling market, which, properly regulated, will serve as a great source of income and revenue for the government, in addition to providing the creation of new jobs and activities in the field, as occurred mainly in the United States and Portugal, and especially explored in Uruguay.”
The full industry report “Brazil Betting Focus” is available free of charge and can be accessed on the company’s website.