It’s been 18 months since Brazil launched its regulated gambling framework and, during that time, the market has undergone a substantial transformation.
Both international and domestic operators are looking to get in on the action, the competition between suppliers is hotting up – all the while, political dynamics are reshaping the country’s gambling landscape.
But as we edge closer to two years of regulation, what factors are continuing to influence the Brazilian market’s potential? And what challenges lie ahead?
According to the Brazil Betting Outlook 2026: One Year into Regulation report, an independent research report published by SBC Insights, one of the biggest factors that are shaping stakeholders’ perception of the regulated market in Brazil is taxation.
The research surveyed 56 executives actively involved in Brazil’s regulated betting market, including operators, regulators, suppliers, lawyers and independent experts.
Conducted during and immediately after SBC Summit Rio 2026, the study combines qualitative interviews with quantitative survey data to examine how the industry views its first full year under regulation.
Hurdles to growth in Brazil
For both operators and suppliers alike, the topic of taxation is one that has raised questions over the viability of the market – with 65.3% of respondents citing taxes as the biggest operational challenge facing the market.
Unsurprisingly, advertising was also cited as a major challenge, with 20.4% of respondents highlighting that legislative changes around marketing have raised a red flag.
Nearly half of respondents (48.9%) believe current advertising restrictions already represent a significant obstacle to long-term market growth, following months of political debate surrounding athlete endorsements, influencer marketing and betting visibility during sports broadcasts.
Earlier this month, Brazil’s gambling industry and its gambling regulator jumped to the defence of the country’s advertising rules after health experts raised questions over whether gambling had a negative societal impact.
Saulo Pedroso, President of Brazil’s Sports Committee, tabled a bill (No. 1,212/2025) which seeks to curb gambling marketing across the country – however, Brazil’s Secretariat of Prizes and Bets (SPA) and the Brazilian Institute for Responsible Gaming (IJBR) defended the current legislation as being effective in its ability to avoid enticing players to gamble.
But concerns weren’t just centred around advertising. Licensing was highlighted by 6.1% of respondents, the same number as those pointing to compliance as a challenge.
It wasn’t all doom and gloom, however. Of those surveyed, 71.7% of respondents are still committed to expanding their operations in Brazil – with 21.7% pursuing aggressive growth in the country.
The average optimism score reached 3.26 out of 5, and 68.2% believe Brazil will reach a mature regulated market within the next two to five years.
What’s inside the report?
Download the full report to explore:
- Industry confidence in Brazil’s regulatory framework after year one
- The impact of taxation on commercial growth and investment
- How advertising restrictions are changing acquisition strategies
- The balance between consumer protection and commercial viability
- Which customer acquisition channels operators expect to deliver the strongest results over the next 12–18 months
- Industry expectations for market maturity through 2026 and beyond
- Exclusive analysis based on responses from executives actively operating in Brazil’s regulated betting ecosystem