THE NEXT BIG MARKET
Standing on the precipice of opportunity, Brazil – the biggest and most populous region in Latin America – is poised for success. While regulations for land-based and online gaming are still being revised by the Senate, the iGaming market looks set to grow to around 2.6 billion over the next 5 years for this nation of sports lovers.
- In 2018, Brazil’s Ministry of Economy entered into a 4 year plan to create a competitive market for online and land-based sports betting. The plan runs alongside a federal law passed in the same year which recognised fixed-odds betting as a legitimate lottery activity.
- In February 2022, lawmakers passed a new bill, with Brazil’s Chamber of Deputies voting in favour of regulating online and land-based gaming – thus setting the framework for the potential launch of a newly regulated market. The bill will still need to make its way through the Senate before being signed into law.
- Up to 31 land-based casino resorts were authorised on February 23rd, with additional licences offered for riverboats and cruise ships.
- According to Statistica’s 2022 survey, football is the most popular sport amongst Brazilian bettors, followed by basketball, esports, and poker – while MMA rounds off the top 5.
SIGMA AMERICAS MERGES WITH BIS
SiGMA Group has announced it has acquired Brazil iGaming Summit (BiS) for an undisclosed figure, the largest conference dedicated to igaming in Latin America to date. This acquisition will help consolidate their existing portfolio and establish a strong presence in this exciting emerging market.
With the live event space out of the pressures of Covid, there’s never been a better time to expand into emerging markets. We’ve been growing organically and steadily for the past nine years. Operators, suppliers and affiliates have all been asking to expand into emerging markets, including Africa, Asia and LatAm. We have listened to these demands and by merging SiGMA Americas with BiS, we are in a position to create an unrivaled experience in the LatAm region.
