Brazil’s Betting Market Generates over $3.2 Billion in H1

Brazil’s newly regulated betting and iGaming market generated BRL17.4 billion ($3.2 billion) in gross gaming revenue (GGR) during its first six months, according to data released by the Secretariat of Prizes and Bets (SPA). The online market officially launched on 1 January 2025, following six months of operator licensing and compliance with strict government regulations. The launch represented a major milestone for Brazil, which had previously relied on an unregulated and largely offshore betting sector, raising concerns about consumer protection and tax revenue. SPA’s first comprehensive market performance update, published Tuesday, provides a detailed snapshot of the early trends in participation, spending, and demographic engagement, offering a basis for future regulatory decisions.

Metric	Value
Gross Gaming Revenue (GGR)	BRL17.4 billion ($3.2 billion)
Number of Bettors	17.7 million
Male Bettors	71%
Female Bettors	28.9%
Most Active Age Group	31–40 (27.8%)
Average Monthly Spend	BRL164
Licensed Operators	78
Licensed Brands	182
Federal Revenue Taxes Collected	BRL3.8 billion

 

Demographic Insights and Market Behavior

The SPA report highlights that betting activity in Brazil is predominantly male, with 71% of participants identifying as men and 28.9% as women. Age distribution data shows the highest engagement among those aged 31–40 (27.8%), while the younger 18–25 (22.4%) and 25–30 (22.2%) brackets followed closely behind. Bettors over 60 accounted for just 2.1% of the total, indicating limited uptake among older demographics. Average monthly spending per active bettor was reported at BRL164, reflecting modest but consistent engagement across the licensed operators. In total, 78 operators are currently licensed to provide fixed-odds betting services through 182 authorised brands, a structure designed to maintain competition while ensuring compliance with consumer protection and anti-money laundering regulations.

Brazilian authorities have already recorded significant tax and fee revenue from the new market. The Federal Revenue Service collected BRL3.8 billion in gambling taxes during the first half of 2025, while the SPA received approximately BRL2.2 billion in licence fees and BRL50 million in inspection fees. These figures suggest that regulated betting is providing the government with a measurable new source of public revenue. The fiscal data also underscores the importance of accurate and ongoing reporting by licensed operators, as regulators aim to balance revenue generation with consumer protection, market oversight, and the reduction of illegal gambling activity.

SPA head Regis Dudena emphasized that ongoing data publication is central to shaping Brazil’s regulatory framework and guiding potential policy changes. “Our goal is, from now on, to periodically disclose the SPA’s activities and the evolution of the fixed-odds betting market, fulfilling this government’s commitment to transparency,” Dudena said. His remarks come as the market faces potential regulatory adjustments, including proposed advertising restrictions, such as watershed rules, which are under parliamentary review. In addition, a preliminary increase in gambling taxes awaits a congressional vote, with policymakers debating whether the higher rates should be made permanent. Industry stakeholders have warned that stricter rules could drive activity back to the black market, reducing both tax revenue and consumer protections. Dudena argued that SPA’s reporting provides a factual basis for evaluating the impact of any regulatory adjustments and supports evidence-based decision-making.

The SPA report also details enforcement actions targeting illegal operators, a persistent challenge for the licensed sector. H2 Gambling Capital estimates that approximately 30% of Brazilian betting activity remains offshore, highlighting the continued appeal of unregulated options. Since October 2024, the National Telecoms Agency, under SPA supervision, has taken 15,463 illegal sites offline. SPA inspections of 93 companies led to 35 sanctions in the first half of the year, while financial institutions flagged 277 suspicious transactions, resulting in the closure of 255 individual and corporate accounts. Additional enforcement actions included requests to 13 payment institutions, leading to the closure of 45 company accounts involved in illicit activity. Efforts to curb illegal advertising also made progress, with 120 cases concluded, including the removal of 112 influencer pages and 146 social media posts promoting unlicensed betting.

 

From here on, the debate on the fixed-odds betting market in Brazil can be conducted with even more solid elements, enabling us to advance evidence-based regulation.

Conclusion

Early performance data indicates a strong uptake of Brazil’s licensed betting market, with significant participation, measurable revenue, and growing regulatory oversight. However, the sector continues to face challenges from potential policy changes and a resilient black market. SPA’s commitment to ongoing data publication provides policymakers, operators, and the public with evidence-based insights, allowing regulatory decisions to be guided by actual market performance rather than estimates. The next phases of the Brazilian market will likely depend on the ability of authorities to maintain balance between growth, compliance, and protection of players from illegal or unregulated activity.