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The Brazilian gambling market: overview, expert opinion, and future outlook

March 4, 2024

Gabidullin: “Brazil has a market with an annual projection of approximately €18.5 billion which would be a gold mine in any field of activity”

2023 saw Brazil, the world’s most promising new gambling market, change nicknames from “sleeping giant” to “a dreamland for gaming operators.”  Slotegrator experts and media partners shared their key insights into this exciting new market.

Brazil caused a massive stir at the end of 2023 when the country finally regulated online sports betting — and, somewhat unexpectedly, casino gaming. The approval follows the passage of Bill 3.626/2023, passed in 2018, which legalized sports betting but did not provide regulations. Ultimately, regulations were approved after a vigorous debate in a plenary session of the Chamber of Deputies. 

It is forecasted that in the next three years, revenues from the Brazilian sports betting and online casino market will exceed 100 billion Brazilian reals ($200.4 million). This revenue, expected to be primarily generated through tourism, is one reason so many online casino and sportsbook operators are considering investing in the country’s gambling market. 

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