The Brazilian Association of Financial and Capital Market Entities (ANBIMA) released the results of a survey that investigated the behavior of the population in relation to their financial life.
According to the report, 14% of Brazilians made at least one online bet in 2023, which equals approximately 22 million people (more than the number of people who invested in private bonds, mutual funds, government bonds, and pension plans).
Of this group, 40% said that the main motivation for gambling was the ‘chance to win quick money in a time of need’, while the ‘chance to get a high return’ was cited by 39% of respondents. There are also those who say they ‘gamble for fun’ (26%), ‘for the thrill of gambling’ (25%), or ‘for the opportunity to bet small amounts’ (20%).
“Two out of ten bettors (22%) consider betting as a form of financial investment. The figure rises to 25% among men. In terms of social strata, there is little difference: 25% in the D/E class, followed by A/B (22%) and C (21%). Considering bettors by generation, boomers (63 years and older) are the age group that stands out when it comes to viewing sports betting as an investment (38%),” ANBIMA’s research report points out.
The fact that a proportion of people see betting as a form of investment is noteworthy, given that law 14.790/2023 prohibits advertisements from presenting betting in this way and the industry itself argues that the games are, in fact, entertainment and amusement.
The survey also shows that the age group that used betting the most in 2023 was people between 16 and 27 years old, the so-called Generation Z (29%). In second place is Generation Y/millenials (28 to 42 years old), with a share of 18%.
The full report with all the research results is available here.