Sports betting in Brazil will be privatized by the country after the proposed decree by the Ministry of Economy was signed into law in August by President Jair Bolsonaro.
The unregulated gambling market in Brazil generates around USD 5 billion a year with “jogo do bicho” bingo halls, slot machines and online gambling
Expectation now is that the legalization will be complete and launch in 2021. Unfortunately, we don’t have any specific date or forecast at the moment.
Brazilian newspaper Estadão from São Paulo reports that Brazil have about 450 websites specialising in sports betting which offers advertisement and affiliation possibilities.
- Brazil is the 5th largest country in the world with 210 million habitants and the leader within Latin America
- Brazilians send abroad between BRL2 billion and BRL8 billion annually via offshore gambling websites, mainly due to the lack of regulation
- Trusted research firm, H2 Gambling Capital indicates the industry could be worth over 2 billion USD in the next five years.
- According to a report from the Brazilian Legal Gaming Institute the illegal gambling market and not just the online, was worth ap (hup) to $6.4 billion in Gross Gaming Revenue terms.
- Brazil predicts that around $3.7 billion in tax revenue would come from legalized sports gambling