The sports betting market in Brazil is booming, with optimistic projections for 2024. With the main state championships in their decisive phase, the expectation is for a significant increase in the volume of predictions, driven by the return of other important competitions, such as the Libertadores and Sul-Americana.
Almost 90% of sports bets are on football
The final of the Campeonato Mineiro will be a duel between rivals Atlético and Cruzeiro. In Rio de Janeiro, Nova Iguaçu surprises by reaching the Carioca final and will face Flamengo.
In Rio Grande do Sul, Grêmio will face Juventude, the team that eliminated Internacional in the semifinals. In Paulista, Santos, Red Bull Bragantino, Palmeiras and Novorizontino remain in contention.
Thus, according to Bet7K, a brand present on the uniforms of the Brazilian volleyball teams and holder of the naming rights for the 23/24 Superligas, the volume of bets could increase by 11% in relation to the state group stage and 50% in relation to the start of the year, when there were no national football games.
This scenario is reinforced by Cristiano Maschio, CEO of fintech Qesh and betting specialist, who highlights the return of competitions such as the Libertadores and Sul-Americana as factors that will further boost the growth of the betting market.
Thus, football bets already represent 85.7% of all predictions in Brazil, according to 2023 data from the Mr. Jack website. Rafael Borges, Country Manager at Reals, believes that the current period in the national football calendar will contribute to increasing this proportion even further.
This is a period where the state championships reach the final stretch and there are other important competitions starting, such as the Brazilian Championship.
Trend for 2024
The betting segment in Brazil registered an increase of 135% between August 2022 and August 2023, according to data from Datahub.
Casa de Apostas also expects considerable growth in website traffic in the coming months. The ongoing competitions and the modernization of the platform will be responsible for this boost.
“We believe that the trend is only going to increase, being driven by the disputes in the group stages of the Libertadores and Sudamericana, as well as the arrival of the decisive stretch of the state championships and the proximity of the start of the Brazilian Championship”, said Hans Schleier, COO ofCasa de Apostas.
“We understand that this entire scenario, together with the news we brought for 2024, such as the modernization of our platform, is something that should continue to boost traffic on the website.”
