The sports betting market in Brazil has been growing exponentially since the legalization of betting in 2018.
Data from Datahub shared exclusively with the Aposta Legal Brasil portal shows that the number of companies opened in Brazil grew by 135% between 2022 and 2023.
The number of new companies in the sector opened by August 2023 is already higher than the total for 2021: in the year to date, 221 companies have already been opened in the sports betting sector in the country, compared to 94 in the same period last year.
The sector has followed a trend of more than doubling in size from one year to the next since 2020. The study shows growth of 360% between 2020 and 2022.
Sports betting market in Brazil
For Datahub, the significant growth of the market is related to the increase in internet access and use of smartphones by Brazilians, as well as the growing interest in sports and sporting events.
“The increase in coverage of sporting events by the media and the popularization of betting among young people may also have contributed to the growth of the sector”, cites the research.
The expectation is that the opening of companies in the sector will continue to grow, especially after the regulation of sports betting, with the taxation imposed on companies that intend to establish themselves in Brazil being a possible challenge.
Methodology
The Datahub study considered CNAE 9200-3/99 (as primary and secondary) Exploration of betting games not previously specified, which encompasses the online betting segment.
The numbers presented may have some variations, as not all companies in this CNAE are necessarily related to the betting market.
Datahub collects, classifies, approves and documents non-sensitive data from public sources.
The data was collected from Datahub’s market research and intelligence platform, which has more than 600 data sources, more than 56 million CNPJs, more than 400 variables, including exclusive modeling.
About Aposta Legal Brazil
Aposta Legal Brasil was born in 2019, bringing specialized content on sports and betting. The objective is to promote responsible gambling and offer Brazilians reliable and up-to-date information about the world of betting and the sector’s regulatory process in the country.
The group offers complete material for those who want to know more about this topic, publishing updated news, guides, tutorials and reviews of betting sites.
The brand also covers six other countries, in 3 different languages: the Aposta Legal group has readers in Canada, Portugal, Peru, Mexico, Chile and India.
