Operators are still able to take over despite Brazil’s lack of online gambling regulations
Brazil is still considering whether or not it wants to regulate online sports betting, and it is possible that the country may not participate any time soon. However, this does not imply that operators of sports betting are not continuously rolling into the nation, since this is not the case.
According to a survey published by the website Aposta Hub, bookmakers in Brazil are continuing to grow their business activities. Although the federal government has stated on several times that the regulations would be finalized before the World Cup, the prospects of this being the case are not very favorable.
However, operators want to ensure that they are first in line since Brazil has the highest potential for both online casinos and sports betting, and they want to capitalize on this potential. According to the news agency Agencia Brasil, which is run by the Brazilian government, 152 million Brazilians, which is 81% of the population, have access to the internet. The future of gaming will be online gaming.
The Brazilians Are Getting Ready to Bet
The market for internet gaming in Brazil has the potential to compete with those of other Latin American nations. Argentina and Colombia have started the process of building their own outlets, but Brazil’s preference for engaging in activities online may swiftly catapult it to the front of the pack.
Many of the country’s soccer teams each have massive fan bases, with some reaching upwards of 30 million supporters. However, despite the fact that a number of nations are presently attempting to construct a wall between sports sponsorships and operators of sports betting, Brazil is not one of them.
Grupo Globo, an additional Brazilian media organization, conducted research and found that around 67% of Brazilians who participate in online betting do so for the entertainment value. This finding is consistent with prior research that demonstrates the vast majority of people who bet on sports see betting as little more than a source of fun.
Additionally, the market for electronic sports competitions (eSports) in Brazil is one of the largest in the world. It is currently in third place, only behind the United States and China, although it has made significant progress over the previous few years.
In 2020, the betting market in Brazil generated R$7 billion, which is equivalent to $1.33 billion USD. The most recent projections anticipate that its value will reach as high as R$12 billion (US$2.28 billion) in the next year.
The amount of increasing interest shown by customers is demonstrated by the monthly number of internet searches relating to the gaming industry and sports betting markets. According to information provided by Google Trends, the number of searches for “bookmakers” and “sports betting” reached an all-time high in the most recent six months.
According to a second survey conducted by Betsson, there has been an increase in people searching the terms “roulette” and “poker” online. The vast majority of operators are giving this a great deal of attention. However, there is an exception to this rule since several operators believe that the absence of restrictions creates an atmosphere that is too disturbing and raises an excessive number of issues that are not adequately addressed.
The Dominance of Sponsorship in Sports
In December of 2018, Brazil became the first South American nation to allow the practice of betting on sporting events. Nevertheless, it was never able to progress the installation of laws that would guide the market. There is still no countrywide regulatory framework in existence today.
That will shift at some point, maybe even before the calendar turns over to next year. When it happens, other operators could sign up for it. Obviously, this will be determined by the investments that are anticipated from them by the government.
For the time being, operators will be pleased with occupying whatever roles that are available to them. This involves negotiating sponsorship arrangements with various sporting groups on their behalf.
Betsson recently reached an agreement with the soccer team Club Athletico Paranaense to take advertising space on the front of the players’ shirts. As a direct consequence of this, each of the top 20 soccer teams in Brazil is affiliated with a different sports betting company.
The pursuit of a unified objective has led to an increase in the number of people looking for new bookies. Users are always looking for attractive welcome bonuses, which are often exclusively available to new players. This provides operators with a purpose to target the market, and customers may anticipate seeing operators increase the amount of effort they put in in an attempt to gain an advantage over their rivals.