It is not new to say that Brazil is one of the most attractive markets for the entire iGaming industry, as we have a people who are culturally passionate about gambling. Online betting, sports, bingo and lotteries are part of our daily lives, and in these 2022 elections we had proof of how the Brazilian public is engaged with this segment.
According to bookmakers cited in news published by O Globo, there was an increase of at least 30% in online betting during the second round of the elections, proving the potential that the national market has to become one of the largest in the world.
Read in full the news about online betting published in O Globo
Last Sunday, when Lula (PT) was elected president of Brazil, the average number of bets exceeded that of the first round by 32%, according to the platform Galera.bet. The increase was even greater at another online sportsbook, Esportes da Sorte, where it reached 43%. Investor searches were so great that the total number of bids was equivalent to an entire round of the Brasileirão, the main competition in Brazilian football that attracts a greater number of bettors.
According to Daniel Trajano, commercial director of Esportes da Sorte, the average value of bets on election day was about 16% higher compared to the two previous days. In addition, on Sunday, the preference of the bids was favorable to the victory of President Jair Bolsonaro (PL):
— I assess that the gamblers chose Bolsonaro’s side largely because of the cost benefit. We were paying around R$1.40 for every real wagered on Lula’s victory, and R$2.60 for Bolsonaro. As the most recent research pointed to a scenario of a technical tie, the cost benefit of betting on the current president has become greater – explained Trajano.
For Ricardo Bianco Rosada, marketing director at Galera.bet, the last debate and the news that came out until the date of the election influenced the betting flow:
— The stakes followed the polarization of polls and polls, practically 50/50. We had a month between the first and second rounds, the subject was very hot, which helps to increase the number of bets – he explained.
Another aspect that catches the eyes of the marketing director is the presence of two different profiles of gamblers. On the one hand, there is the professional, who invests with a strategic vision. On the other, the passionate, who plays for the crowd.
According to Trajano, this year’s results are unprecedented, as Brazilians do not have a tradition of betting on political results. However, the fierce numbers for 2022 can help to change this reality: the trend is for a market to be built, as it is already consolidated in places like the United States and the United Kingdom.
— The company has 5.5 million Brazilians registered, most of them website users. Interest in the presidential race grew a lot, which brought us revenues four times higher than in the previous three weeks.