Brazil's sports betting market, now formally regulated, is poised for significant growth, with projections indicating online gross gaming revenue could more than double by 2029. Sportradar, a global sports technology company, is strategically positioning itself to capitalize on this expansion, reinforcing its commitment with the opening of a local office in 2024 and leveraging its global experience to navigate the Brazilian market.
The company's approach includes forming key partnerships with Brazil's major sports leagues and federations, such as the Brazilian soccer Federation (CBF) and the country's volleyball federation (CBV), to support the integrity of sports. Sportradar's bet monitoring and alerting platform plays a crucial role in detecting suspicious betting patterns, contributing to a 48% decrease in suspicious matches in Brazilian soccer last year.
With 50 of the 80 licensed operators in Brazil already as clients, Sportradar is not only focusing on sports betting but also expanding into iGaming, offering a full portfolio of products to explore this new avenue. This strategic expansion aligns with Brazil's potential to become a leading hub for regulated sports betting and iGaming, underscoring the importance of Sportradar's investments and partnerships in the region.
