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Bettors in Brazil wagered around R$54bn (US$11.1bn) between January and November 2023, according to estimates published by Brazilian newspaper Folha de S.Paulo.

Using data from Brazil’s Central Bank, Folha estimated that of the total R$54bn wagered, around R$34.5bn was returned to players in Brazil as winnings.

Those figures demonstrated an increase in gambling spend among Brazilians compared to 2022, according to Folha.

Elsewhere, surveys by Brazilian market research firm Datafolha suggested that around 15% of the Brazilian population currently bets, or has previously bet, online.

The figures are higher among men, more than 20% of whom said they had bet online, while the proportion of women thought to have done the same is under 10%.

Online betting was also shown to be more popular among younger demographics, with almost a third of respondents aged between 16 and 24 admitting they had placed bets online.

The average monthly spend among Brazilian bettors was shown to be around R$263 (US$53), which is equivalent to around 20% of the monthly minimum wage in Brazil.

Regulation incoming

Brazil is expected to implement its new local regulatory regime for online gambling this year.

After a years-long process to introduce related legislation, a law allowing for the regulation of both online sports betting and iGaming was finally approved by President Luiz Inácio Lula da Silva at the very end of 2023.

Under the law, licensed operators will be subject to a 12% tax on GGR, while player winnings will also be taxed at a rate of 15%.

Based on Folha’s betting volume estimates, Brazil could therefore have generated some R$7.5bn in tax revenue from 2023’s January-November betting activity, had the bets taken place with licensed operators.

In addition, licence fees may reach up to R$30m, and will allow licence holders to operate up to three commercial brands for up to five years.

Brazil’s Ministry of Finance previously suggested that more than 100 companies may seek licensure in the country following the introduction of regulations, suggesting that the government could stand to generate upwards of R$3bn in licence fees alone.

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