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Brazil Online Sports Betting Market Report by Sport Type (Football, Basketball, Horse Racing, Baseball, Tennis, and Others), End-User (Desktop, Mobile), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A24645
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Brazil Online Sports Betting Market Overview:
The Brazil online sports betting market size reached USD 810 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 2572.34 Million by 2032, exhibiting a growth rate (CAGR) of 12.60% during 2024-2032. Regulatory reforms legalizing the industry, increasing smartphone penetration, growing internet access, rising sports enthusiasm and a young, tech-savvy population, and increasing partnerships between betting operators and sports organizations are some of the major factors propelling the market growth.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
|
|
Forecast Years
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2024-2032
|
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Historical Years
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2018-2023
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| Market Size in 2023 | USD 810 Million |
| Market Forecast in 2032 | USD 2572.34 Million |
| Market Growth Rate 2024-2032 | 12.60% |
Brazil Online Sports Betting Market Trends:
Rising Regulatory Changes
The legalization and regulation of online sports betting are crucial drivers. Recent legislative changes, including the legalization of sports betting and ongoing efforts to establish a comprehensive regulatory framework, provide a structured environment that fosters market growth. These reforms ensure transparency, security, and a legitimate operational framework for betting operators, attracting both local and international players. For instance, in April 2024, Brazil’s Ministry of Finance published the new ordinance in Brazil’s Official Gazette of the Union. It outlines how the regulations approved in Bill 3,626 will be implemented in the coming months, to be completely implemented by the end of July 2024. The order established the Regulatory Policy of the Prizes and Betting Secretariat (SPA), a Ministry of Finance body that will structure and publish the incoming regulation as per the guidelines. The body will aim to provide clarity on the legal aspects of the regulation and prioritize the most pressing measures for enactment.
Growing Digitalization
The rapid growth in digital infrastructure significantly boosts the market. Increasing smartphone penetration and improved internet connectivity make online sports betting more accessible to a broader audience. With more Brazilians using mobile devices and high-speed internet, accessing betting platforms has become easier, driving higher engagement and participation in online sports betting activities. This digital expansion supports the industry's growth by enhancing user experience and expanding market reach. According to industry reports, there were 187.9 million internet users in Brazil at the start of 2024, when internet penetration stood at 86.6 percent. Brazil was home to 144.0 million social media users in January 2024, equating to 66.3 percent of the total population. A total of 210.3 million cellular mobile connections were active in Brazil in early 2024, with this figure equivalent to 96.9 percent of the total population. Such statistics reflect the increasing digital penetration across the country, which is contributing to the market growth significantly.
Brazil Online Sports Betting Market News:
- In June 2024, The Rio de Janeiro State Lottery (Loterj) reopened its accreditation period for companies seeking authorization to operate legally in the state. Operators seeking Loterj authorization to legally operate fixed-odds sports betting and igaming in Rio de Janeiro have 15 days to submit applications.
- In August 2024, MGM Resorts International and Grupo Globo, Latin America's largest media group, announced the formation of a new venture to seek a sports betting and iGaming license in Brazil. If its license is approved later this year, the new venture will launch in Brazil in early 2025 under the BetMGM brand, bringing a responsible, best-in-class betting platform to one of the newest and fastest-growing regulated markets in the world.
Brazil Online Sports Betting Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on sport type and end-user.
Sport Type Insights:
- Football
- Basketball
- Horse Racing
- Baseball
- Tennis
- Others
The report has provided a detailed breakup and analysis of the market based on the sport type. This includes football, basketball, horse racing, baseball, tennis, and others.
End-User Insights:
- Desktop
- Mobile
A detailed breakup and analysis of the market based on the end-user have also been provided in the report. This includes desktop and mobile.
Regional Insights:
- Southeast
- South
- Northeast
- North
- Central-West
The report has also provided a comprehensive analysis of all the major regional markets, which include Southeast, South, Northeast, North, and Central-West.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Brazil Online Sports Betting Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Million USD |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Sport Types Covered | Football, Basketball, Horse Racing, Baseball, Tennis, Others |
| End-Users Covered | Desktop, Mobile |
| Regions Covered | Southeast, South, Northeast, North, and Central-West |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the Brazil online sports betting market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Brazil online sports betting market?
- What is the breakup of the Brazil online sports betting market on the basis of sport type?
- What is the breakup of the Brazil online sports betting market on the basis of end-user?
- What are the various stages in the value chain of the Brazil online sports betting market?
- What are the key driving factors and challenges in the Brazil online sports betting?
- What is the structure of the Brazil online sports betting market and who are the key players?
- What is the degree of competition in the Brazil online sports betting market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Brazil online sports betting market from 2018-2032
- The research report provides the latest information on the market drivers, challenges, and opportunities in the Brazil online sports betting market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Brazil online sports betting industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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