Bradesco BBI predicts betting in Brazil will continue in double digits
Online betting now accounts for 3.4 percent of Brazil's net retail sales, up from 2.7 percent in 2023, and that proportion is expected to rise to 3.5 percent in 2026. This data comes from a Bradesco BBI study on the Latin American sector, reported by Brazil Journal, which anticipates that the Brazilian market will sustain double-digit growth rates in the coming years.
According to the bank, gross gaming revenue (GGR) increased by 33 percent in 2025, reaching US$17 billion, or approximately R$86.5 billion. Before the regulated fixed-odds betting market came into effect, the same entity estimated this volume at US$13 billion, or about R$66.2 billion. For 2026, the projection is an 11 percent increase, with GGR around US$20 billion, or approximately R$101.8 billion. The pace will be more moderate than the previous year, but Bradesco BBI believes the country still has room for growth, especially when compared to more mature markets.
The public's profile explains part of this optimism. Twenty-two percent of Brazilian adults use betting platforms, 68 percent of bettors are men, and almost half are under 30 years old. The bank bases its vision of sustained growth on three pillars: the already established user base, the current regulatory framework, and the population's strong digitalization.
The report also puts the phenomenon into perspective against e-commerce. Online betting revenue is equivalent to 12.3 percent of that market, whereas in 2023 it represented 8.3 percent. Among bettors, the average net spending is R$122 per month, which is equivalent to 7.5 percent of the minimum wage in force in 2026.
Regarding indebtedness, Bradesco BBI considers that debt linked to betting remains a marginal risk for credit portfolios and financial behavior, with no significant macroeconomic effects. Even so, the study notes that 82 percent of Brazilian families have some type of debt and that almost 30 percent of their budget is allocated to payments, a context that does not alter the bank's conclusion about the sector's expansion potential.
Bradesco BBI is the investment banking unit of Banco Bradesco, one of Brazil's largest private banks. The fixed-odds betting market has been operating with federal licenses since January 2025, under Law 14.790/2023 and the supervision of the Secretariat of Prizes and Betting of the Ministry of Finance, whose official data placed GGR for the first half of 2026 at R$20.07 billion, 15.3 percent higher than a year earlier.
Tags: Bradesco BBI, Brazil online betting market, Brazil betting GGR, Brazilian bettors