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H2 Gambling Capital’s latest study reveals significant growth in Brazil’s online betting and iGaming market, with active accounts expected to reach 36 million by 2026.
H2 Gambling Capital Announces Details on Brazil Study
Global specialist gambling sector market data provider H2 Gambling Capital has provided some new data for the upcoming trends in the iGaming market in Brazil. The new study shows that the number of active online betting and iGaming accounts has grown significantly, with expectations being they might reach 36 million by the next year. In addition, sports betting will be the leading vertical of the year.
According to the study, Brazil’s online betting and gaming market is projected to generate a gross revenue of R$ 29 billion (around $5 billion). Each active online betting account should represent a gross revenue (GGR) of around R$766 ($133). This all suggests the Brazilian market would experience rapid expansion.
H2 Gambling Capital’s survey also highlighted the most popular types of bets. It says that real-time bets have been surging in popularity in the online betting and gaming sector in Brazil. The study also posits that this trend will continue in 2025.
Additionally, the survey mapped the most popular and profitable sports that Brazilian bettors like to engage with. Making up 86% of the country’s GGR is, perhaps unsurprisingly, soccer. Tennis and basketball come in second and third place with a 4% and 3% share of Brazil’s GGR, respectively. The final 7% that make up the difference is attributed to every other sports betting in the country.
Brazilian Gaming Market Is on the Rise
The trends analyzed by H2 Gambling Capital follow the changing laws in Brazil. About a month ago, the country’s Ministry of Finance announced it had completed the licensing phase and the opening of the bets market for new casinos. The Secretariat for Prizes and Betting (SPA) played a crucial role in managing the entire licensing process to ensure compliance with strict standards.
A total of 150 license applications have been submitted by 145 companies since the licensing application period ended in September of last year. Of these, 68 businesses have obtained full licenses and paid the required concession fee, which equates to around $5.2 million, along with an initial lump sum exceeding $395 million. Popular brands such as bet365, Stake.com, Betboo, SportingBet, and more, have already entered the market. Several local operators are also poised to compete, demonstrating the growth of the Brazilian domestic industry.
In addition to the growing iGaming market in the country, Brazil also plans to further invest inland-based casinos as well. Celso Sabino, Brazil’s Minister of Tourism, announced that the country plans to establish brick-and-mortar casino gaming sites nationwide as soon as legalization occurs. However, this will likely take more time as PL 2,234/2022, which legalized regulated casino gaming, horseracing wagering, bingo, and other games of chance, has been in the Brazilian legislative system. This is despite it passing with a 14-12 vote in the nation’s Justice and Citizen Committee.
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