Sportsbook platform provider BtoBet announced Wednesday the publishing of its latest Industry Report "Brazil Betting Focus", which analyzes the opportunities this market poses once it opens up for business.
The report goes over the regulatory situation in the Latin American country, which many industry experts expect to be fully regulated by this year. It also provides detailed insights about player psychographics, and which content generates the greatest engagement.
The statistics provided by BtoBet's industry report are focused on a market overview, the sports betting vertical, player preferences, player profiles and player wallet-share.
BtoBet's report shows that, with the regulation of sports betting, the country could become one of the main markets in the world based on the size of its population and the cultural inclination to sports.
Quoting a recently published study by Grupo Globo, the largest mass media group of Latin America, in 2020 the sports betting market generated revenues amounting to BRL 7 billion ($1.3 billion) despite the halt in sporting events brought about by the pandemic.
The study also indicates that, between 2018 and 2020, the market grew from BRL 2 billion ($387 million) to BRL 7 billion.
27% of the respondents have indicated that, during the pandemic, they have increased their betting activity, whilst 18% of the respondent stated their betting behavior remained unaffected.
22% of the participants have said that they have opted for less risky bets, whilst 21% have also decreased the amount staked in betting.
18% have answered they place bets on a daily basis, 16% bet from 4 up to 6 times a week, 48% indicated they bet once to 3 times a week, and 18% do so twice or three times a month, or less.
Player engagement was also affected by the pandemic. More than half the participants responded they placed their first bet after the onset of COVID-19. 59% stated they started betting no more than a year ago.
Whilst 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 the equivalent of 96.3% of the total population. The number of connections registered a 2.7 million decrease (-1.3%) on a year-on-year basis.
In terms of most popular sports to bet on, football was the most popular sports with 81% of total choices, basketball received 33% of total answers, eSports followed with 29%, poker followed with 26% of total answers, MMA had 23% of total answers, volleyball was chosen by 23% of participants, 21% also chose horse racing, boxing received 21% of total choices, 21% chose American football, whilst tennis closed the list with 19%.
"The liberalisation of Brazil’s gambling laws has been a discussion point and area of vast interest for some time, with a number of foreign companies poised to enter the market. 2022 looks set to be the year when this sleeping giant awakes. And it has everything to do so in a successful fashion, having the largest consumer base in Latin America and a proven propensity for gaming", the company stated in its report.
"In this sense, there is no doubt that Brazil has great potential for exploring the betting market, which, properly regulated, will serve as a great source of revenue and revenue for the government, in addition to providing the creation of new jobs and activities in the field, such as occurred mainly in the United States and Portugal, and mostly explored in Uruguay".
The full “Brazil Betting Focus” Industry Report is available for free and can be accessed on the company's website.