Youth Frenzy: Nearly 1 in 3 Young Brazilians Double National Average in Sports Betting

A recent survey conducted by the analytics company Datafolha has revealed that nearly a third of Brazilians aged 16 to 24 have engaged in sports betting, which is twice the national average. Among the young respondents, 7% acknowledged their past participation in betting but had since stopped, while another 8% continued to actively engage in betting activities.

The survey also highlighted that the average monthly gambling expenditure in Brazil, based on the overall respondents, stands at $43. Analysts pointed out that this amount represents approximately 20% of the minimum wage for the year 2023. Notably, three out of ten gamers involved in betting reported monthly expenditures exceeding $20.

Earlier in the year, Brazilian President Lula da Silva signed a law aimed at regulating the sports betting and online gambling market in the country, signaling a significant step in the evolution of the gambling landscape in Brazil.

16 January 2024, 20:50

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