Brazilians bet over $3.7 billion in the first four months of 2024

Between January and April 2024, Brazilians spent $3.7 billion on offshore online bookmakers. The figure is 32.14% higher than the same period in 2023, which was $2.8 billion.

The data were compiled by the website Aposta Legal Brasil from the balance of payments made available by Banco Central. 

Image: Aposta Legal Brasil

In addition to the increase in bets, the number of prizes also grew: players received $3.5 billion in the first four months of the year, compared to the $2.7 billion recorded in the same period last year. 

The growth comes in the first months after the approval of law 14.790/2023, which regulated online gambling in the country and brought a series of regulations to the industry.

Other data reinforces the growth of the sector in Brazil. As reported by Yogonet, a survey commissioned by CNN to Datahub, a data analysis platform, showed that online gambling grew by 734.6% between 2021 and April 2024.

Three years ago, there were 26 companies whose core business was operating online gambling and betting. That number increased to 79 companies in 2022, the same number of betting shops that opened in the first four months of 2024 alone, with a total of 217 in April.