The data, released by BBC News, marks the first time Brazil appears in the consultancy’s global ranking — driven by the entry into force of its regulatory framework at the beginning of 2025, which confirms the speed and strength of the sector’s expansion.
According to Bernardo Cavalcanti Freire, Legal Consultant at ANJL and partner at Betlaw: “Regulation has decisively contributed to positioning Brazil among the largest markets in the world. It is an ecosystem that generates jobs, pays taxes, complies with standards and strengthens national sports.”

The performance places the country very close to Italy (US$ 4.617 billion) and Russia (US$ 4.515 billion). Above them are the United Kingdom (US$ 9.901 billion) and the United States, which lead the ranking with estimated net revenue of US$ 17.312 billion.
Behind Brazil are Australia, Canada, France, South Africa and Germany.

Alex Rose, CEO of InPlaySoft, states that the Brazilian market is experiencing solid and responsible expansion: “Brazil has enormous potential for regulated gaming to thrive. International expectations surrounding the country are very high.”
Experts point out that growth accelerated due to factors such as the pandemic, the massive adoption of Pix since 2021 and, above all, the regulation that came into force in January, raising standards of security, transparency and responsible gaming.

Nickolas Ribeiro, Chairman of Ana Gaming, highlights the qualitative leap: “The results from the first year of regulation show the maturity of the Brazilian sector, capable of operating with technology and a workforce comparable to the largest global markets.”
Rafael Borges, CEO of Reals, and Vitor Silveira de Andrade, CAO of 1PRA1, agree that the regulated environment drives employment, innovation and credibility, consolidating the country as a future global reference in best practices.