Online betting: 25% of Brazilians would take loans to play, says study of Possible Futures

Futuros Possible, an intelligence platform on futures, presents the report “Futuro das Betas Online: where we are and where we are going”, the second edition of its study on the habits and perceptions of Brazilians in relation to the online betting market, popularly known as “bets”. 

Conducted in partnership with Opinion Box, the survey heard 2,023 people of different age groups and social classes throughout Brazil, revealing the profiles and motivations behind online betting, in addition to the potential socioeconomic risks.For 60% of respondents, losing all the amount invested in bets in the future would negatively affect their personal finances.

Another finding that points to potential socioeconomic risks is the propensity to borrow to sustain the habit of betting.In the next 12 months, 25% of respondents would consider using loans to continue betting, an especially high indicator for Generation Z, which leads this statistic with 45%.

Viewed as a possibility of financial gains by the majority (38%), the bets act as a hope of financial leverage on the part of the respondents. Among those who expect the bets to improve their family budgets, classes D and E add up to 32%, above classes AB, which have 21%.

“The online betting market has grown rapidly in Brazil, but this growth reflects socioeconomic inequalities that cannot be ignored”, says Angelica Mari, CEO and co-founder of Possible Futures.“The study reveals the urgency of financial awareness and the need for tighter regulation to protect society from the risks of this phenomenon

The report also explores differences in behavior according to gender and social class. Men tend to bet more often and higher values, while women are the majority among those who have never bet.In addition, research has identified that Class C is the one that most seeks financial gains with betting, while ClassES DE face the greatest propensity to indebtedness to maintain the habit.

“Gender and social class differences show the extent of the effects of bets in Brazil and need to be closely observed. While they have more fun than women betting, men are more likely to borrow in the next 12 months to maintain the practice,” analyzes Marcelo Gripa, COO and co-founder of Futuros Possible. “This is a sign that fun can turn into debt without proper care.”

The report includes other findings, such as:

• The motivations behind the bids: 38% bet for the possibility of financial gain; 27% for trying luck; and 17% for fun; and
• Frequency and expenses: Men bet more often and higher values; women are the majority among those who have never bet;
• Risk and debt: Generation Z and DE classes are more likely to take loans to continue betting;
• Values: Most bet less than R$ 50 per move; women are the majority in this range (70% versus 59% for men).

“We hope this study will be an important step towards starting a broader dialogue on the impact of online betting in Brazil, considering the financial, social and mental health aspects of these” practices, says Andreza Maia, co-founder and chief influence officer of Possible Futures.

“This data can support dialogue on public policies that promote financial education and support the most vulnerable populations, who are often the most affected by online gambling”.

The collection that generated the data that underlie the study was carried out between 18/09 and 25/09, and the margin of error is 2.2pp. For more information, access the full report: https://futurospossiveis.rds.land/futuro-das-apostas-online24