Study Finds 68% of Brazilians Gamble Ahead of Market Regulation

A recent study, conducted by market research agency Hibou this August, revealed that 68% of the Brazilian population has engaged in some form of gambling, underscoring its profound impact on the daily lives of people. What gives rise to concern is the fact that 16% of gamblers have experienced financial troubles ensuing from gambling. The study inquired into the motives, gambling preferences, and challenges faced by a representative sample of 2,839 Brazilians.

Market research, analysis, strategic planning, lectures, and desk research are the core services offered by Hibou, with consumers’ points of view being in the foreground of all studies. Ligia Mello, Chief Strategic Officer at Hibou and in charge of the research, shared her thoughts once it was finalized. She said she was impressed by the cultural and economic impact of gambling in the Latin American country.

Regarding the gambling preferences of the survey respondents, 47% said they play the lottery, as it brings the promise of life-changing winnings. Raffles rank second, accounting for 25% of participants. Sports betting is the gambling product of choice for 11% of players, with the majority feeling more inclined to wager when a gambling brand sponsors the team they root for. Bingo accounts for 10% of gamblers, online casinos come next (8%), closely followed by the popular game Jogo do Bicho (5%). Slots stir the interest of 1% of respondents.

Of those who gamble, 53% confirmed their gambling losses surpassed their winnings. Financial hardships ensuing from gambling have troubled 16% of survey respondents. Some 32% said they had to sell assets to cover their losses. Nearly 29% had to borrow money from friends or relatives to make up for their gambling losses, whereas 25% resorted to their life savings. That being said, just 2% of gamblers considered themselves addicted.

Non-gamblers, on the other hand, stated the lack of trust in the gambling systems as the most prevalent reason not to gamble (44%).

SIGAP Has Processed 113 License Requests

The aforementioned study brings a unique perspective into the gambling habits of people in the largest and most populous country in Latin America, where the regulation of online betting will come into effect on January 1, 2025. Last Tuesday (August, 20) was the deadline for applying for a license to operate sports betting and online gaming in Brazil. According to the latest data, SIGAP (Sistema de Gestão de Apostas, Brazil’s Betting Management System) has processed a total of 113 license requests from 108 companies.

The number of businesses that expressed interest in participating in the regulated Brazilian betting market exceeded expectations, as confirmed by Régis Dudena, Secretary of Prizes and Betting at the Ministry of Finance. This underscores the confidence in the proposed regulatory framework and positions Brazil as one of the largest gambling markets in the world, according to him.