In several places around the world, such as the United States and Brazil, the sports betting industry is growing exponentially. Between the months of January and November 2022, the value moved through the market reached more than US$ 79.6 billion in the United States, according to the report released by the Variety Intelligence Platform.
Compared to the amount generated in 2021, there is an increase of 98%. Calculating based on the years 2020 and 2019, there is an evolution of 569% and 2,268%, respectively. Among the states that participated in the report, New York appears at the top of the list, with US$ 13 billion. Next, New Jersey occupies second place with US$ 8.1 billion.
With more than 450 platforms and sponsorship in most of the big teams in Brazilian football, the sports betting branch should move more than BRL 12 billion in 2023. In 2020, the market generated BRL 7 billion. If the prediction comes true for this year, the business will record a 71% growth in just three years.
Darwin Filho, CEO of Esportes da Sorte, comments on the reasons that contributed to the growth of sports betting in Brazil: “Last year, we saw the betting branch with much more maturity, reach, competitiveness, efficient platforms, interactive and with great speed in monetary transactions due to the creation of the pix, which resulted in the ideal environment for a significant evolution of this market”.
According to a survey produced by Grand View Research, the sports betting market should reach US$ 153.6 billion by 2030. The branch still lives the expectation of achieving legalization in some places and regulation in others. In the US, for example, important states such as Massachusetts and Ohio are expected to legalize the practice in 2023. In Brazil, companies are awaiting regulation.
“The sports betting branch has consolidated itself and has reached an increasingly wide audience. The population at home due to the pandemic, the introduction of the PIX and all the marketing produced by companies in this market resulted in unprecedented levels of notoriety. In addition, the various game options also contributed to the growth of the business”, says Hans Schleier, marketing director at Casa de Apostas.
Before the start of the main sporting competition on the planet, the World Cup, the British bank Barclays published a survey related to the event and sports betting. According to the financial institution, the tournament would raise US$ 35 billion from the branch, an amount 65% higher than the edition held in 2018, in Russia.
“In terms of sports, football continues to be the sport that most receives bets and the forecast is that these numbers will remain the same. An important fact that helps us understand the success achieved by betting during the World Cup in Qatar is that the tournament took place, in an unprecedented way, at the end of the year and in the middle of the season for Europeans”, says Marcos Sabiá, CEO of operations at galera.bet.
“The development of technology is also another factor that makes access more practical. There were still all the changes imposed by the pandemic. In this scenario, online betting gained more visibility, people had to adapt to a different routine and maintained social distancing. This made them look for new ways to have fun at home, through digital, which includes sports betting, especially football”, he adds.