Brazilian households lost 62.5 billion reais ($12.5 billion) on betting in 2025, according to the third edition of a bulletin published by Comsefaz, the National Committee of State Finance Secretaries. The figure exceeds official statistics from regulator SPA.
The study drew on Central Bank data and payment statistics across economic sectors. Operators processed 350.97 billion reais in transactions through the Pix instant payment system. The gap between the Comsefaz estimate (62.5 billion reais) and Finance Ministry data (36.9 billion reais) came to 25.6 billion reais — roughly 41% of the total. That aligns with the lower end of the unlicensed market share estimated by LCA Consultores for the Brazilian Institute of Responsible Gaming at 41% to 51%.
Impact on lower-income households
The total represents net losses (stakes minus payouts). It equals 0.68% of Brazilian household disposable income. The authors note that the growth of betting has begun to affect household financial behaviour.
Regulation coincided with a structural shift in Pix transfers from individuals to companies in the arts, culture, sports and entertainment sector. Researchers compared forecast and actual transfer volumes from October 2024 through March 2026. They attributed the difference to bookmakers, though the link is a statistical model rather than direct causation.
The ban on betting for recipients of the Bolsa Família welfare programme slowed transaction growth. That points to a significant role for lower-income families in online betting. For the market it signals that the main flow is not coming from the premium segment.
