From the beginning of 2023 to November, the citizens of Brazil collectively spent approximately 54 billion reais on various online gambling and betting activities. This data was sourced from the Central Bank of Brazil.
Customers received payouts totaling around 43.3 billion reais, with operators registering a profit of 10.2 billion reais. Remarkably, 15% of the Brazilian population participated in online betting and gabling throughout the year. On average, each Brazilian spent 263 Brazilian reais on online gambling.
Towards the conclusion of 2023, President Lula da Silva signed a law that officially regulates sports betting and online gambling in Brazil.
According this document, only companies compliant with Brazilian law are permitted to offer gambling services within the country. A three-year operator’s licence is obtainable for 30 million Brazilian reais. Operators are obligated to pay a 12% tax on their income, and a 15% tax is imposed on player winnings.
Moreover, only licenced operators are authorised to advertise sports betting and online gambling, and these entities are barred from providing bonuses to their customers. To foster responsible gaming, operators are mandated to offer customers self-exclusion periods ranging from 24 hours to six weeks.
The anticipated outcome of this law is a significant annual tax revenue of over 3 billion reais for the Federal government of Brazil.
Meanwhile, the Pennsylvania Gaming Control Board has unveiled the financial outcomes of the gambling sector for the year 2023, revealing a total industry revenue of $5.69 billion. This figure represents a notable 9.3% surge compared to the 2022 statistics.
The positive trajectory in income has notably impacted state tax revenues, with $2.34 billion contributed in the past year, demonstrating an increase from the 2022 level of $2.12 billion.
The comprehensive financial report uncludes earnings from diverse gambling segments such as slot machines, table games, sports betting, iGaming. The regulatory authority emphasised that the remarkable growth is primarily attributable to the success of the iGaming sector, witnessing a nearly 28% revenue boost, reaching $1.74 billion. Notably, slot machines emerged as the top contributor, amassing $2.46 billion.
However, the table games sector experienced a 1.9% decline in results compared to 2022, accumulating a total revenue of slightly less than $971.7 million. Sports betting generated $458.6 million with an annual growth rate of 14.31%.
Earlier, it was reported that Portugal achieved a historic milestone in its online gambling revenue in the third quarter of 2023.
