Esports betting, known as esports, is on the rise in Brazil, reflecting the explosion of the competitive scene and the increase in viewership on live streaming platforms.
Data from Newzoo, a global research company in the gaming industry, indicate that Brazil ranks third in the world in the number of enthusiasts, with over 17 million regular fans. With this, bets in the modality have become a new frontier of expansion for technology companies and gaming platform operators.
Ricardo Santos, data scientist and founder of Fulltrader Sports — a leading SaaS software company for the end consumer of sports betting in Latin America —, points to the professionalization of competitions as one of the main factors attracting bettors. "The market is going through a phase similar to football a few years ago, with the increase of leagues, sponsorships, and visibility on digital media. This sparks the interest of those seeking betting opportunities in innovative modalities," he explains.
Factors driving growth
The expansion of esports betting is associated with a combination of factors. Among them, the advancement of technology and the popularization of tournaments streamed on platforms like Twitch and YouTube stand out as pillars. Game competitions such as 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 possibility of quick returns through betting.
Furthermore, 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, characteristics that attract bettors looking for reliable statistics.
According to a study by the Getulio Vargas Foundation (FGV), the gaming sector in Brazil grew by 27% between 2020 and 2023, partly due to the migration of entertainment consumption to the digital environment during the pandemic. This movement also increased the number of people betting on esports matches.
Challenges of betting on an evolving sport
Despite the opportunities, the esports betting market still faces challenges. Unlike traditional sports like football, this niche exhibits a more volatile dynamic, with frequent changes in teams, game rules, and even the meta (dominant strategies in each season). This can make predictions more complex and increase the risk of losses for less experienced bettors.
Betting on esports requires a deep knowledge of the sport. As it is a relatively new market, it is common to see beginners facing difficulties when trying to apply strategies used in traditional sports, he warns. He highlights that statistical analysis can be an ally in risk mitigation. "Real-time data collection, combined with predictive models, allows for forecasting trends and increasing accuracy," it reveals.
However, the bettor must be cautious. "Esports are still in the consolidation phase, and this means that unexpected changes can directly impact the odds. Therefore, discipline and risk management are essential for those who wish to bet sustainably," he advises.
Possibilities of financial return and regulation
The global esports betting market moved approximately US$ 17 billion in 2023, according to Gambling Insider, and Brazil is increasingly integrated into this trend. However, the segment still lacks specific regulations in the country. The expectation is that, with the establishment of the regulatory framework for sports betting in Brazil, the sector will also benefit from clear rules.
Ricardo invests in the production of educational content to teach bettors how to interpret data and deal with peculiarities. "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 e-sports," he says.
