Betting on electronic sports, known as esports, is on the rise in Brazil, reflecting the explosion of the competitive scene and the growing audience on live streaming platforms.
Data from Newzoo, a global gaming industry research firm, indicates that Brazil ranks third in the world in terms of enthusiasts, with over 17 million regular fans. As a result, betting on this category has become a new frontier for expansion among technology companies and gaming platform operators.
Ricardo Santos, data scientist and founder of Fulltrader Sports—a leading SaaS software company for sports trading end-users in Latin America—highlights the professionalization of competitions as one of the main attractions for bettors. ‘The market is going through a phase similar to football a few years ago, with the growth of leagues, sponsorships, and visibility on digital media. This sparks the interest of those seeking betting opportunities in innovative categories,’ he explains.
Factors driving growth
The expansion of esports betting is linked to a combination of factors. Among them, technological advancements and the popularization of tournaments broadcast on platforms like Twitch and YouTube stand out as key pillars. Competitions in games like League of Legends (LoL), Counter-Strike: Global Offensive (CS:GO), and Valorant not only attract millions of viewers but also generate financial interest due to the potential for quick returns on bets.
Additionally, the increase in sponsor investments and the creation of official leagues, such as the Brazilian League of Legends Championship (CBLOL), have brought more seriousness and predictability to the scene—qualities that attract bettors looking for reliable statistics.
According to a study by Fundação Getulio Vargas (FGV), the gaming sector in Brazil grew by 27% between 2020 and 2023, partly due to the migration of entertainment consumption to digital environments during the pandemic. This shift also increased the number of people betting on esports matches.
Challenges of betting on an evolving category
Despite the opportunities, the esports betting market still faces challenges. Unlike traditional sports like football, this niche has a more volatile dynamic, with frequent changes in teams, game rules, and even meta (dominant strategies each season). This can make predictions more complex and increase the risk of losses for less experienced bettors.
‘Betting on esports requires deep knowledge of the category. Because it’s a relatively new market, it’s common to see beginners struggling when trying to apply strategies used in traditional sports,’ he warns. He emphasizes that statistical analysis can help mitigate risks. ‘Real-time data collection, combined with predictive models, allows for trend forecasting and increased accuracy,’ he reveals.
However, bettors should proceed with caution. ‘Esports are still in a consolidation phase, which means unexpected changes can directly impact odds. That’s why discipline and risk management are essential for those who want to bet sustainably,’ he advises.
Financial return possibilities and regulation
The global esports betting market generated approximately $17 billion in 2023, according to Gambling Insider, and Brazil is increasingly integrated into this trend. However, the sector still lacks specific regulations in the country. The expectation is that with the establishment of a regulatory framework for sports betting in Brazil, the industry will also benefit from clear rules.
Ricardo invests in educational content production to teach bettors how to interpret data and handle the nuances. ‘Our goal is to prevent users from relying solely on luck. We want to promote a culture of analysis and planning, especially in such a dynamic market as esports,’ he says.
