Brazil's potential to become a major powerhouse in the igaming industry is highlighted in a comprehensive market report titled 'igaming in Brazil: pre-regulated market overview,' published by SOFTSWISS.
With a population of over 215 million people, the country presents a significant opportunity for online gambling operators, but its market is currently awaiting regulation following President Lula's approval of provisional measure No-1182.
Despite the current lack of regulation, the report outlines that the Brazil market has all the necessary ingredients to thrive in the igaming sector. The country's rich sporting history, particularly its strong affinity for football, has contributed to the popularity of sports betting. According to data from the report, a whopping 81% of bettors in Brazil choose to place their wagers on football matches, with basketball (33%), esports (29%), and poker (26%) following behind.
Despite the strong focus on sports betting, there is an emerging opportunity for online casino companies in Brazil. The report predicts that the online casino sector in the country will reach €0.91 billion in revenue by the end of this year. Furthermore, it is expected that 48% of bettors will engage in online casino games "one to three times per week" by 2027.
While the Brazil market shows tremendous potential, the lack of regulation poses some challenges. However, once the market is regulated, there is the possibility of rapid expansion, given the country's attractive demographics, technological penetration, and economic prosperity.
In conclusion, SOFTSWISS highlights that Brazil has all the elements to make it an attractive market for igaming operators. The company, along with the entire igaming industry, is keeping a close eye on the developments in Brazil's market. SOFTSWISS aims to support current and future operators in the country by providing them with innovative technology solutions to ensure their success in this burgeoning market. As Brazil moves closer to regulated online gambling, the igaming industry anticipates exciting growth opportunities in this promising and vibrant market.
By fLEXI tEAM