Betano is currently leading the way in Brazil with a 23% share of the grey wagering market, a new white paper from OpenBet has indicated using research from global industry data consultancy H2 Gambling Capital.
Offering exclusive data analytics and projections from H2GC, the OpenBet report revealed Betano 23%of the Brazil betting market, with Bet365 following closely behind with a 20% share.
However, the report also outlined that with the legal market set to launch on 1 January 2025, the Brazilian industry will be increasingly competitive as local brands as well as a raft of international brands seek to get their share of an onshore market that H2GC predicts could reach $10.1bn (£7.7bn/€9.2bn) in gross gaming revenue (GGR) by 2029.
That would represent growth of nearly double, with H2GC estimating Brazil’s legalonline sports betting and igaming market will be worth around $5.6bn in 2025 GGR.Around $3bn of that will come from online sports betting, with igaming responsible for $2.6bn…