Betting on electronic sports, known as esports, are in full rise in Brazil, reflecting the explosion of the competitive landscape and the increase in audience on live streaming platforms.
Newzoo data, global research company on the gaming industry, indicate that Brazil ranks third in the world in the number of enthusiasts, with over 17 million regular fans. With that, bets in this modality have become a new frontier of expansion for technology companies and gaming platform operators
Ricardo Santos, data scientist and founder of Fulltrader Sports — leading company in SaaS software for the end consumer of sports trading 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 that of football a few years ago", with the increase of leagues, sponsorships and visibility in digital media. This sparks the interest of those seeking betting opportunities in innovative modalities, explain
Factors driving growth
The expansion of betting on esports is associated with a combination of factors. Among them, the advancement of technology and the popularization of tournaments broadcasted on platforms like Twitch and YouTube stand out as pillars. Game competitions like League of Legends (LoL), Counter-Strike: Global Offensive (CS:GO) and Valorant not only attract millions of viewers, but they also generate financial interest due to the possibility of quick returns on bets
Furthermore, the increase in investments from sponsors and the creation of official leagues, like the Brazilian Championship of League of Legends (CBLOL), they brought more seriousness and predictability to the scenario, characteristics that attract bettors in search of reliable statistics
According to a study by the Getulio Vargas Foundation (FGV), the gaming sector in Brazil grew 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 soccer, this niche presents a more volatile dynamic, with frequent changes in teams, in the rules of the games and even in 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 modality". For being a relatively new market, it is common to see beginners facing difficulties when trying to apply strategies used in traditional sports, alert. He emphasizes that statistical analysis can be an ally in risk mitigation. "Real-time data collection", combined with predictive models, allows predicting trends and increasing accuracy, reveals
However, the bettor must be cautious. Esports are still in the consolidation phase, and this means that unexpected changes can directly impact the probabilities. That's why, discipline and risk management are essential for those who want to bet sustainably, advises
Possibilities of financial return 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 segment still lacks specific regulations in the country. The expectation is that, with the definition of the regulatory framework for sports betting in Brazil, the sector should also benefit from clear rules
Ricardo invests in the production of educational content to teach bettors how to interpret data and deal with the peculiarities. "Our goal is to prevent the user from relying solely on luck". We want to promote a culture of analysis and planning, especially in a market as dynamic as that of electronic sports, say
