Legislation
22.4 million Brazilians take part in online gambling
By James - 6 May 2024
The number of Brazilians who bet online is around 7 times greater than those who invest in shares according to the Brazilian Association of Financial and Capital Market Entities (ANBIMA).
According to the report approximately 22.4 million Brazilians are involved in online betting, which is equivalent to approximately 14% of the population. In contrast, only 2% of the population invested in stocks, while 5% made investments in private securities, and 2% in public securities.
Among the 30.1 million who frequently use betting apps, 5% place occasional bets while 6% do so rarely. The adoption of betting is higher among individuals who invest, hovering around 16%, and varies among social classes.
Furthermore, the document indicates that Generation Z (aged 16 to 27 in 2023) accounts for 29% of young people participating in online betting. Following them are millennials (aged 28 to 42 in 2023) with an 18% participation rate.
Motivations for using betting platforms include the possibility of making money quickly (40%) and the chance of a higher return (39%). There are also those who say they “gamble for fun” (26%), “for the thrill of gambling” (25%) or “for the opportunity to bet small amounts” (20%).
The findings were published in the seventh edition of the Investor’s X-Ray, promoted by ANBIMA. ANBIMA is non-profit organization that brings together banks, management firms, brokers, distributors and administrators. The association also works to improve the transparency, efficiency, and credibility of the Brazilian financial market. The Brazilian Investor X-Ray is an annual survey, carried out by ANBIMA, in partnership with the research institute DataFolha.
