A recent white paper by OpenBet, utilizing data from H2 Gambling Capital (H2GC), has identified Betano as the top player in Brazil’s gray betting market, holding a significant 23 percent share. Following closely behind is Bet365 with a 20 percent share. These findings come ahead of Brazil’s planned launch of its legal wagering market on January 1, 2025, with H2GC estimating a potential $10.1 billion in gross gaming revenue (GGR) by 2029.
H2GC also predicts that sports betting will dominate the Brazilian market over iGaming in 2025, with sports betting expected to account for 55 percent of online GGR in the first year of the legal market. Additionally, slots, including crash games, are projected to contribute 27 percent to Brazil’s GGR in 2025, while live casino and other iGaming activities are estimated to make up 6 percent and 12 percent, respectively.
In Argentina, the Provincial Institute of Lotteries and Casinos has confirmed progress on seven tenders for casinos in Buenos Aires. The president of the institute, Gonzalo Atanasof, recently met with union representatives from the seven casinos located in various cities, including Sasso, Miramar, Hermitage, Mar de Ajó, Sierra, Tandil, and Necochea. This announcement follows discussions between Atanasof and the governor of Buenos Aires province, Axel Kicillof, emphasizing the need for investments to support employment stability and improve working conditions.
Esportes da Sorte, a betting operator, has been under scrutiny after its owner, Darwin Henrique da Silva Filho, was arrested following allegations of money laundering and illegal betting. Despite the arrest, the company’s legal director, Gabriel Oliveira, maintains Esportes da Sorte’s innocence, emphasizing transparency and adherence to the law in all financial operations.
Codere Group has reported a decline in revenues and earnings for Q2, attributing the decrease to Argentina’s challenging economic environment. The company highlighted the impact of the country’s economic conditions and currency devaluation, leading to a 10 percent drop in revenue and a 23 percent decrease in adjusted EBITDA. Codere Group remains hopeful for a recovery in the second half of the year, with revenues showing signs of growth above inflation.
Looking ahead, Brazil’s ministry of finance is gearing up to crack down on illegal betting payments through payment blocking measures. Pay4Fun director Ari Celia believes that the government’s strategy to block payments involving illegal operators using Pix, an instant payment service controlled by the Central Bank of Brazil, will effectively target black market operators. Celia anticipates that commercial banks will comply with the government’s directives to avoid fines and penalties, strengthening efforts to combat illegal gambling activities in the country.
