A recent survey conducted by market research firm Hibou shows that 10% of Brazil’s population has experienced financial difficulties due to gambling, even before new regulations are implemented.
The survey, which gathered responses from 2,839 people across all social classes in Brazil, examined the prevalence of gambling in the country.
The findings revealed that 68% of Brazilians participate in gambling activities, with approximately 16% of respondents reporting financial difficulties as a result of their gambling.
Is pre-regulation gambling causing social issues?
This translates to about 10% of Brazil’s population. While these figures may be concerning, it’s important to note that they reflect a period before the legal online gambling market launches. The first legal bets are set to be placed on January 1, 2025, with 113 operators having applied for a license during the initial 90-day preference window.
Among those who faced financial difficulties due to gambling, 32% admitted to selling assets to cover their losses. Additionally, 29% borrowed money from friends or family, and 25% dipped into their savings.
Furthermore, 23% of those affected stated that their financial issues remain unresolved. Despite these numbers, only 2% of Brazil’s population identifies as having a gambling addiction.
Overall, 65% of respondents reported knowing someone who had encountered financial problems due to gambling.
For those who said they didn’t gamble, 44% cited a lack of trust in the fairness of bets and games as their reason, while 30% pointed to not having any money left to lose.
Gambling losses outpacing wins in Brazil
The study revealed 53% of players had spent more than they won on all the games they played, while less than half (48%) said they had ever won a bet.
Of the games in which players turned a profit, lotteries accounted for 12% while raffles were responsible for 14%.
Gambling games were believed to be addictive by 88% of respondents who didn’t gamble, with just 3% stating they didn’t feel betting could be addictive while 9% were unsure.
Is Fortune Tiger firestorm turning players against igaming?
Online games, including the controversial Fortune Tiger, were identified by 69% of respondents as some of the most dangerous for gambling addiction.
Fortune Tiger, an Asian-themed slot game, has faced criticism for using influencer advertising that led players to incur significant losses on fraudulent sites, resulting in arrests. Despite this, the game will be available in the regulated market under Normative Ordinance No. 1,207 on online games.
Casinos and slot machines were seen as risky by 64% of those surveyed, while 34% identified sports betting as a potential addiction risk.
When asked which games should be regulated, 35% of respondents felt that online games like Fortune Tiger should be federally regulated, while 56% believed they should be banned entirely.
In comparison, lotteries were viewed differently, with 67% supporting federal regulation and only 4% advocating for a ban.
