In 2021, sports betting is predicted to earn R$7.4 billion with an estimated R$800 million in monthly revenue. The largest sport for sports betting in Brazil is soccer followed by horse racing and football. Out of all sports, Formula 1 has the highest average bets with $820 per fan per year followed by basketball ($595) and tennis ($250). In 2008, there were 523 companies that offered legal gambling services in the country which was a 100% increase from 2007 when there were only 257 companies operating. In 2016 during Rio de Janeiro’s Olympic games, it reportedly made about $160 million from sports betting alone leading up to the event.
Most popular sports in Brazil
Brazil’s most popular sports are soccer and football. In 2021, 41% of Brazilians were either professional or amateur players in the sport of soccer according to a study by Ibope. The same study found that 28% of Brazilian men bet on soccer matches with 58% betting at least once in their lifetime. One-third (34%) of Brazilians between age 16-65 made bets on horse racing matches which accounted for about $1 billion in wagers every year. About 60% of these people played lottery games when asked if they ever played any kind of game involving chance. Other popular sports in Brazil include basketball, tennis, volleyball, and Formula 1.
Football and soccer in Brazil
Brazil’s soccer league is divided into about 20 divisions with the top 5 being elite as they are considered professional divisions. Out of all the teams within these five divisions, Flamengo from Rio de Janeiro was reported to have taken in about $20 million from its fans according to a study by Superbid. In 2017, Corinthians from Sao Paulo made about $19 million from ticket sales. During games, 40% or more of tickets for games that were sold out were done so online through websites like Ingresso Fifa which allows users to pay via credit cards. Out of all Brazilian soccer players who earned at least $1 million annually it was reported that over half were paid by Palmeiras from Sao Paulo.
All five of Brazil’s professional football divisions have their own federations with the national league called CBF (Confederacao Brasileira de Futebol) as one of them. The objective of each league is to promote healthy competition which requires teams to pay an entry fee for joining. Also, all players must be registered and under contract according to Fifa rules and regulations. According to a study, about 3% of Brazilian males were professional soccer players, and another 9% played at amateur levels in 2017.
So how much money does each game generate for betting organizations in Brazil?
According to Superbid, during the 2021 Confederations Cup soccer games, it generated almost $155 million in wagers. There was over $20 million in bets placed on the final game between Germany and Chile. The average bets per person were $391 which made up 17% of Brazil’s yearly betting revenue.
Brazil has had an on-and-off relationship with sports betting but it seems to be growing more popular as years go on. Brazilians seem to find it easier to bet online through websites like Superbid which allow for credit card payments. Soccer is the most popular sport in Brazil making up 41% of all sports bets. Horse racing is coming up as a close second with about 28% of bets made. Although there are only 5 professional football leagues in Brazil, they all have their own federation and commit to following Fifa’s rules and regulations which means no corruption from the organizations running it. In 2016, over $160 million was brought in from sports betting during Rio’s Olympic games.
But it is worth noting that more and more bettors prefer online bookmakers such as Joo Casino. In other words, today, in 2022, betting in Brazil has reached the peak of its popularity. Try it, you won’t regret it.
