Shortly after President Lula signed Law 14.790, which regulates sports betting and online gambling in Brazil, the magazine The Winners published an article with the opinions of experts in the field where it analyzes the industry’s rapid growth in this country. Yogonet reproduces the parts of the text that interest those involved in the sector.
Read the full article in Portuguese on this link (page 49).
Pix boosted the popularity of betting in Brazil
The expansion and ease of Pix helped popularize betting in the country, further boosting the growth of this market.
This modality has become the favorite payment method among users of online betting sites, according to a survey conducted by Pay4Fun. The survey revealed that 9 out of 10 users use Pix to transact on sports betting sites.
Sector growth
The gambling sector in Brazil is growing at rates much higher than the world average.
According to José Venâncio, a partner in Hand’s mergers and acquisitions area, the world gambling market has been growing at rates close to 10% per year, while in Brazil the rates exceed 90%. “The projection is that in 2024 the market could represent one-fifth of the world turnover,” he said.
According to the analyst, the trend is for the main players in the market to remain in place, but also for new investors to enter the market.
“Regulation brings the gambling sector closer to the capital market and creates an attractive environment for private equity funds and large global companies, especially those listed on the stock exchange. In addition, companies that do not have the structure or capital to adhere to legalization can be taken over by competitors, contributing to the consolidation of the gambling market in Brazil. Large global groups will be able to start their activities in the country by acquiring local competitors,” Venâncio added.
Original article: https://www.yogonet.com/international/noticias/2024/01/10/70331-experts-analyze-the-fast-progress-towards-a-multibilliondollar-sports-betting-market-in-brazil
