Brazilians Increase Betting Activity by 30% from January to April 2024

According to new data from the Central Bank of Brazil, cited by iGaming Brazil, Brazilian bettors have shown a significant surge in their betting activity. Between January and April 2024, they placed $3.7 billion in wagers with international bookmakers. 

This represents a substantial increase of 32.14% compared to the same period in 2023, when bets amounted to $2.8 billion.

Not only has the volume of bets grown, but the winnings have also seen a notable rise. Bettors earned a total of $3.5 billion from successful wagers during January to April, compared to $2.7 billion during the same period last year.

The growth trend is linked to Brazil’s efforts to legalize betting and establish a regulated market. However, since the licensing process for operators has just begun, Brazilians are still betting with international bookmakers, generating significant revenue for these companies.

Betano, a brand owned by the Greek company Kaizen Gaming, became the first operator to apply for a betting license from the Secretariat for Prizes and Betting at Brazil’s Ministry of Finance. 

The official launch of Brazil’s regulated betting market is scheduled for the beginning of 2025, at which point the government will begin collecting taxes from bookmakers. Until then, the substantial amounts wagered by Brazilians continue to flow outside the national budget.