A new study by Brazilian fintech company Klavi has found that digital gambling is increasingly affecting personal finances across the country, with more than 600,000 people identified as exhibiting high-risk betting behavior that directly impacts household budgets.
The analysis reviewed anonymized Open Finance data from 6.8 million individuals, tracking income, spending, betting frequency and credit usage over a 12-month period.
According to Klavi, 53.6% of the sample, around 3.7 million people, placed at least one bet during the period, double the figure recorded a year earlier.
Based on its Gaming Risk Indicator, Klavi classified 18% of active bettors as high risk, meaning their gambling activity is linked to missed financial obligations or deteriorating financial health.
A further 11.6% were deemed moderate risk and 9.4% low risk, suggesting potential escalation over time.
Bruno Chan, Executive Director and Co-Founder of Klavi, said: “Digitalization has expanded access, but not necessarily the understanding of risk.”
Chan added: “What the study shows is that the combination of digital inclusion and lack of financial education creates fertile ground for compulsive habits.”
The research indicates that individuals in the high-risk category are at least 35% more likely to default on payments, reduce essential spending, withdraw investments or sell personal assets to continue betting. Delays in paying utility bills and reduced contributions to emergency savings were also more common within this group.
Demographic analysis highlighted disparities by age, region and income. Among those aged 18 to 24, half of high-risk players belonged to social class C, with 68% located in Brazil’s southeast and northeast regions.
In the 25 to 34 age group, around one-third exhibited some level of risk, while 12% had already reached the high-risk threshold. Risk levels declined among older age groups overall, though remained elevated among lower-income consumers.
Klavi said the findings point to a broader shift in how gambling risk evolves over time, shaped by digital exposure and financial uncertainty rather than income alone.
Chan said real-time data monitoring could play a role in earlier intervention.
The findings come as Brazil’s betting market continues to expand its visibility. In 2025, operators spent more than BR1.4bn ($490m) on television, radio and streaming advertising, highlighting the rapid growth of digital gambling exposure across the country.
Brazil recently introduced restrictions preventing social welfare beneficiaries from accessing online gambling platforms, citing concerns over consumer protection and financial vulnerability
