Published on 01/23/2024 09:43:07
The vast potential of the online gambling market in Brazil with its population of 200+ million has come under the spotlight in a recently published research paper by Irish tech company ENV Media.
Titled "Unveiling the Brazilian Real-Money Gaming Market," this comprehensive study sheds light on the burgeoning iGaming ecosystem in Brazil and its perspectives for growth.
The study draws attention to the substantial financial footprint of the Brazilian iGaming sector. According to data quoted by the research paper, annual spending on online casinos and bookmakers based abroad amounted to approximately BRL 2 billion (USD 420 million as per current exchange rates) as early as 2017.
More recent figures suggest that online sportsbooks alone had reached a market size of BRL 7 billion (USD 1.47 billion) by 2020, reflecting the immense popularity of online gaming among Brazilians.
Extrapolating data from prominent studies on the market, the researchers at ENV estimate the total size of iGaming in Brazil today, including casino, lottery, and all other real money gaming categories, to amount to BRL 21-25 billion (USD 4.4 - 5.7 billion), indicating a significant opportunity for both the industry and the government to reap the benefits of regulation and channelling gambling monetary streams through legitimate outlets.
While the potential for growth is undeniable, the Brazilian iGaming market is still in the process of legalisation and regulation. The research paper by ENV Media highlights the efforts made by lawmakers to address the legal status of various gambling channels, including sports betting, casino games, and online gaming.
The introduction of Senate Bill No. 186/14 underscores the importance of legalizing these forms of entertainment, with potential tax revenues of approximately BRL 15 billion (USD 3.15 billion) at stake, an amount five times larger than what the Brazilian exchequer is currently collecting from alcohol, tobacco, automobiles, and fuels taken together.
In a bid to capitalize on the flourishing Brazilian gaming market, ENV Media has embarked on a strategic expansion journey revolving around the introduction of the 7JP iGaming platform (link to the website).
The Irish company's recently announced collaboration with the KTO Group in Brazil reflects their commitment to leveraging the market's potential in this large country.
A move that will not only diversify ENV Media's revenue streams, but is also aimed at positioning the company as a key player in the Brazilian iGaming landscape.
The research paper underscores the significance of this expansion strategy as ENV Media taps into the expertise of the KTO Group to provide cutting-edge front-end optimization and immersive user experiences.
The ENV research paper is built on a foundation of reliable data and insights. It references studies conducted by organizations such as KPMG and the Brazilian Legal Gaming Institute (IJL) to provide a comprehensive understanding of the market.
The paper delves into the preferences and behaviors of Brazilian gamers, shedding light on factors that drive engagement and participation.
From desired features in gaming platforms to motivations for engaging in real-money gaming, the research offers valuable insights into the mindset of Brazilian players.
Exploring the Brazilian real-money gaming market through the research paper by ENV Media sheds light on a market with immense potential.
As Brazil's regulatory landscape evolves and the iGaming sector gains legal footing, the opportunities for growth and revenue generation become increasingly evident.
With strategic partnerships and an unwavering commitment to innovation, ENV Media is poised to play a pivotal role in shaping the future of the Brazilian gaming industry.