Online betting is already more popular than most investments in Brazil. According to Raio X do Investidor, 14 per cent of the population placed a bet online in 2023 but only 2% invested in shares. 

Of the 22 million punters, 5 million place bets regularly, 8 million occasionally and 10 million only rarely. In all cases, the figures exceed those of B3. According to B3, around 1.6 million individual investors on the Brazilian stock exchange made at least one trade per month in the variable income segment in 2023. And this was the highest result in B3's historical series, which began in 2011.

The Investor's X-Ray explains that 63 per cent of the Brazilian population still doesn't invest and savings still reign among the 37 per cent of investors. According to the survey, 25 per cent of Brazilians have funds in savings accounts. All other types of investment are less popular than the 14 per cent for sports betting. Shares, for example, were mentioned by only 2% of the population.

Why bet online?

The chance to make money quickly and with a high return is what drives Brazilians to online betting apps and sites, according to Raio X do Investidor. The survey also reveals that 13 per cent of Brazilians and 22 per cent of punters consider betting to be a form of investment.

See the motivations of bettors:

Chance of making quick money in times of need: 40 per cent;
Chance of winning a large sum of money: 39%;
Fun: 26%;
Thrill of betting: 25 per cent;
Opportunity to bet small amounts: 20%;
Considers it a way of investing: 13%;
Chance of being able to save money for the future: 13%;
Ease of using applications: 11%;
Not being left out, since acquaintances are betting: 5%.

Who bets?

Men, investors, the upper classes and young people from generation Z are the main users of betting in Brazil.

According to Raio X do Investidor, 16 per cent of the 37 per cent of Brazilians who invest also said they bet online. And take-up of betting reached 17 per cent in classes A/B, falling to 15 per cent in class C and 10 per cent in class D.

In addition, 19 per cent of men and 10 per cent of women said they were betting users. In terms of age, betting predominates among younger people. Here's how many Brazilians said they bet online in each age group:

16 to 27 years old: 29%;
28 to 42 years old: 18%;
43 to 62 years old: 6%;
63 and over: 4%.

Por Marina Barbosa