Brazil: For the First Time, Sports Betting Surpasses Online Casinos

The Brazilian gambling market underwent major changes in the first half of 2025. According to exclusive research by Pagsmile, sports betting has surpassed online casinos in market volume for the first time.

2025 Figures

• 59.5% of total turnover — sports betting
• BRL 434.7 million ($ 79.8 million) — betting market volume
• 40.5% of total turnover — online casinos
• BRL 295.8 million ($ 54.3 million) — online casino market volume

Why Online Casinos Are Losing Ground

• Full implementation of industry regulation from January 1, 2025
• Major sports events: Copa América and the Olympic Games
• Widespread use of smartphones as the main betting platform
• Active marketing campaigns and influencer impact

Brazilian Bettors

• 36% of residents aged 16+ (56 million people) have bet online at least once
• The share of players grew by almost 50% year-on-year (from 24% in 2024 to 36% in 2025)
• Interest is especially high among men and young people
• 43% of men and 43% of respondents aged 16−24 participated in online betting
• 41% of players live on an income not exceeding two minimum wages
• 42% have incomplete secondary education

The growing interest in betting extends beyond affluent or tech-savvy users, increasingly involving socially vulnerable groups.

Trends in Payment Methods

• PIX share dropped from 98% in 2023 to 63.29% in 2025
• SPEI (Mexican interbank payment system) captured 8.61% of the market, reflecting Pagsmile’s expansion across Latin America
• Digital wallets and Colombia’s PSE (Secure Online Payments) are gaining popularity, driving payment diversification

Why Payment Habits Are Changing

• Operational limitations of PIX
• New regulatory requirements for the betting market

Conclusions

• Sports betting became the main growth driver of Brazil's gambling market in 2025.
• Regulation and major tournaments boosted betting activity.
• The betting audience is expanding rapidly, engaging youth and vulnerable groups.
• The fintech landscape is shifting: PIX is losing ground, while Open Finance, SPEI, and digital wallets are growing.