The practice of online betting in Brazil has reached its peak, making the country a global leader in access to betting platforms.
Overcoming the United Kingdom, a traditional reference in this market, Brazil witnessed a surprising growth of 75% in access to these platforms in 2022.
According to Similarweb, a company specialized in data analysis, Brazil already generates an impressive R$45 billion per year in this sector.
This significant amount highlights not only the enthusiasm of the Brazilian public, but also the economic potential of this market.
Government interest in regulating online betting
The government’s interest in the sector translates into a project nearing approval in Congress.
The objective is to tax both platforms and bettors, while establishing rules to make the activity safer, in line with international practices.
The legal framework that drove this increase occurred in 2018, when “fixed odds betting” was legalized, paving the way for a market that moves billions and caught the attention of the Ministry of Finance.
The recent approval of the project by the Senate Economic Affairs Committee signals the willingness of legislators to regulate the sector.
Statistics reveal that, by the end of 2022, one in three adults engaged in sports in Brazil had already tried online betting, while one in four did so regularly. Among young people aged 16 to 29, this number reaches an impressive 44%.
However, the rise in popularity of online betting is not without its challenges. The project being discussed in Congress aims to combat compulsive gambling, a concern raised by experts.
Taxation on betting
The regulation pending in the Senate also seeks to prevent compulsive gambling disorder and debt, but critics point out the need for greater detail.
The currently proposed measures leave it up to platforms to define limits, something that differs from the more rigorous approach adopted in the United Kingdom.
In the area of taxation, Brazil seeks a delicate balance. The government’s initial proposals suggested rates of 18% on platform results and 30% on bettor prizes, above R$2,112.
However, pressure led to a reduction to 12% and 15%, respectively, approaching the model adopted by Australia.
