New data from Brazil’s Ministry of Finance shows that a minority of bettors in Brazil spend more than BR1,000 ($200) per month on sports betting and online gaming, while most players wager relatively small amounts.
According to figures obtained through Brazil’s Freedom of Information law by payments provider Pay4Fun, approximately 19.5% of bettors fall into the highest spending bracket, representing around 4.3 million individuals.
However, the majority of users reported much lower monthly expenditure. The largest group, accounting for 53.3% of bettors, spends up to BR50 per month.
A further 7.4% spend between BR50.01 and BR100, while 4.1% fall within the BR100 to BR150 range.
Additional segments include 2.7% spending between BR150.01 and BR200, 3.7% between BR200.01 and BR300 and 4.2% between BR300.01 and BR500.
Smaller shares of players reported spending between BR500.01 and BR750 (3.1%) and between BR750.01 and BR1,000 (2.1%).
Leonardo Baptista, CEO and co-founder of Pay4Fun, said the figures indicate that betting is primarily used as a form of entertainment by most consumers.
“We need to understand that Brazilians like to have fun and the entertainment industry is there,” said Baptista.
“Focusing on prohibition will only take away what is currently a regulated market, with rules and support, and push it all into the illegal realm, which has no support, no control, and no guaranteed prizes.”
The data also outlines the demographic profile of bettors in Brazil. Men represent 68.2% of the total, while women account for 31.8%.
In terms of age groups, the largest segment of bettors falls between 31 and 40 years old, representing 28.63% of users. This is followed by players aged 25 to 30 (22.21%) and those up to 24 years old (22.06%).
Brazilian authorities recently reported a sharp rise in suspicious betting-related financial alerts as the newly regulated market continues to expand
