Online Sports Betting - Brazil | Statista Market Forecast

Revenue in the Online Sports Betting market is projected to reach US$603.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 26.97%, resulting in a projected market volume of US$1.99bn by 2029.
In the Online Sports Betting market, the number of users is expected to amount to 2.2m users by 2029.
User penetration will be 0.9% in 2024 and is expected to hit 1.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$296.70.
In global comparison, most revenue will be generated United States (US$14.30bn in 2024).
With a projected rate of 48.8%, the user penetration in the Online Sports Betting market is highest Canada.

Definition:

The online sports betting market refers to the segment of the online gambling industry that involves placing bets on various sports events over the internet. This includes a wide range of sports, such as football, basketball, baseball, horse racing, tennis, and many others. Online sports betting allows customers to place bets on the outcome of sporting events in real-time, either before or during the event. These bets can be placed through various online platforms, including websites and mobile apps, which are often operated by licensed online sportsbook operators.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online sports betting on various sports such as football, basketball, tennis, cricket, golf, etc.
Esports betting on sports simulation games such as FIFA, NBA 2K, and Madden NFL
Proposition betting on specific events or outcomes in a sports game

Offline or land-based sports betting establishments such as sportsbooks and race tracks
Betting on non-sporting events such as politics, entertainment, and reality TV shows
Illegal or unlicensed online sports betting websites or apps.

The Online Sports Betting market in Brazil has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Brazil have shifted towards online sports betting due to its convenience and accessibility. With the increasing penetration of smartphones and internet connectivity, more people are opting to place bets online rather than visiting physical betting establishments. The ease of accessing a wide range of betting options and the ability to place bets anytime, anywhere have made online sports betting a popular choice among Brazilian consumers. Trends in the market have also played a role in the growth of online sports betting in Brazil. The market has witnessed the emergence of new online betting platforms, offering innovative features and attractive promotions to attract customers. These platforms have invested in user-friendly interfaces, secure payment options, and a wide variety of sports events to cater to the diverse preferences of Brazilian bettors. Additionally, the increasing popularity of major international sports events, such as the FIFA World Cup and the Olympics, has fueled the demand for online sports betting in Brazil. Local special circumstances have further contributed to the development of the online sports betting market in Brazil. The country has a strong sports culture, with football being the most popular sport. Brazilians are passionate about their favorite teams and players, and this enthusiasm translates into a high demand for sports betting. The legalization of online sports betting in Brazil has provided a regulated and safe environment for bettors to engage in their favorite pastime. This has instilled confidence among consumers and led to an increase in participation in online sports betting activities. Underlying macroeconomic factors have also played a role in the growth of the online sports betting market in Brazil. The country has experienced economic stability and a growing middle class, which has contributed to increased disposable income. As a result, more Brazilians have the financial means to participate in online sports betting and are willing to spend on their favorite sports events. In conclusion, the Online Sports Betting market in Brazil has been developing rapidly due to customer preferences for convenience and accessibility, trends in the market such as the emergence of new online platforms, local special circumstances including a strong sports culture, and underlying macroeconomic factors such as economic stability and a growing middle class. These factors have contributed to the growth of the online sports betting market in Brazil and are expected to continue driving its expansion in the future.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services.

Modeling approach:

Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Sports betting is a type of gambling that refers to the activity of placing a wager on the outcome of a sporting event. Events on which wagers are made could be anything from more traditional activities like horse or dog racing to sports such as soccer and American football. Bets are typically made through bookmakers, also known as sportsbooks. These operate both as land-based establishments, for example, at casinos or betting shops, and online. The total amount of money wagered by bettors is known as a handle, while the amount of money earned by a sportsbook after paying out the winners is revenue. In 2022, the sports betting and lottery market size worldwide amounted to 235.46 billion U.S. dollars.