Betano is currently dominating the Brazilian betting market, holding a significant 23% share of the grey wagering market, according to a new white paper from OpenBet. Global industry data consultancy H2 Gambling Capital provided exclusive data analytics and projections for the report, which also highlighted Bet365 closely following behind with a 20% share.
The report painted a picture of increasing competition in the Brazilian industry as the legal market is set to launch on 1 January 2025. Local brands and a plethora of international brands are gearing up to secure their share of the onshore market, which H2GC predicts could reach a whopping $10.1bn in gross gaming revenue (GGR) by 2029. This substantial growth represents a nearly doubled figure from the estimated $5.6bn GGR expected in 2025, with online sports betting accounting for around $3bn and igaming contributing $2.6bn to the overall market.
Env Media’s research aligned with H2GC’s findings, indicating that Betano, owned by Kaizen Gaming, was the most recognizable and trusted betting brand in Brazil, just behind Bet365. The sports betting sector is anticipated to dominate the market in 2025, representing 55% of online GGR in Brazil next year.
When it comes to gaming revenue projections, slots, crash games, live casino, and other igaming activities are expected to contribute 27%, 6%, and 12% respectively to Brazil’s 2025 GGR. In a country where football holds significant cultural importance, the sport is predicted to make up 86% of sports betting GGR and 78% of turnover in Brazil.
Statistics show that approximately 50% of online sports bettors in Brazil engage in weekly wagers, with 21% placing daily bets and the remaining 29% betting occasionally. The revenue from bet builders plays a crucial role in the betting market, with a margin of 21.5% for multiples compared to 6.7% for singles, contributing to the total market margin of 9.3%.
In-play wagering is highlighted as a key revenue driver, commanding 60% of turnover compared to 40% for pre-match bets. H2GC predicts a surge in online active accounts in Brazil by 2026, estimating 39 million accounts and projecting an onshore online GGR of BRL29bn. This translates to a GGR per active account of BRL745.
Comparative analysis with other markets shows that Brazil’s 39 million active online accounts equate to 15 million adults, accounting for 9% of the population. In contrast, the UK boasts 24% of adults with active online betting accounts, while the newly regulated Netherlands market has just 5% of adults holding active accounts.
