The nation of over 200 million people, Brazil has the undeniable potential of becoming one of the world’s largest betting destinations. In fact, this football-loving South American country has already a huge betting market that is poised to grow in 2019.
Market liberalization is underway
As a federal country, Brazil’s states enjoy vast autonomy on a variety of matters, including betting. Both bettors and betting operators will be interested to know that Brazil has recently introduced new legislation that authorizes sports betting online.
This is yet another step to creating a full-fledged, regulated and customer-protected industry with all the benefits of the legal framework to operate within. Another positive signal the new legislation delivers is for global betting operators, who are guaranteed free market access. In turn, this would translate in a competitive and saturated betting market.
The numbers behind promising growth forecasts
The Legal Gaming Institute in Brazil estimates that the country’s betting market can potentially amount to a whopping $55 billion of reals (nearly US $14 billion).
As well as that, about 2.5 million Brazilians have already registered to bet online. Half of them tend to bet on a daily basis, using websites like apostasesportivasbonus.com. Without a doubt, both Brazilian and international betting operators will most certainly find this an extremely lucrative market to explore.
Millennials are joining the crowd
Another interesting characteristic of the Brazilian betting market is the growing significance of millennials. Not only are they tech-savvy and active, they also enjoy access to higher-than-average income, especially in iconic locations like Rio de Janeiro and São Paulo. It is very likely that global betting operators would have a particularly keen interest in this demographic.
In addition, football is expected to be a market driver. A nation so passionate about football as Brazil cannot miss out on the exciting possibilities that betting in this segment offers.