TLDR ANBIMA released a new study examining online betting behavior in Brazil, based on interviews with 60 current and former gamblers. The research identifies four bettor profiles: Fortune Follower, Lion Killer, Reality Expert, and Thrill Seeker. Data shows 7% of Brazilians bet occasionally, 1% bet daily, and 11% of bettors are considered high risk for addiction. The study separates sports betting from online casino games, noting casino formats can lead to longer play sessions. ANBIMA recommends financial education programs instead of banning betting platforms.
The Brazilian Financial and Capital Markets Association, known as ANBIMA, has published a study looking closely at online betting habits across the country. The research was carried out by the consultancy Kyvo.
Researchers interviewed 60 current and former gamblers from all five regions of Brazil. The goal was to understand motivations and behavior patterns rather than to measure the total size of the betting market.
Four Bettor Profiles Identified
The study sorted bettors into four groups. Two of these, Fortune Follower and Lion Killer, are mostly women from lower income backgrounds.
Fortune Followers hope betting will bring them quick financial gain. Lion Killers often use betting to help cover basic living costs, which points to financial strain.
The other two groups, Reality Expert and Thrill Seeker, are mostly young men with higher incomes. Reality Experts study games and build strategies, sometimes treating betting like a substitute for investing.
Thrill Seekers usually see betting as entertainment. Many first learn about it through friends or family members.
Most Bettors Show No Warning Signs
ANBIMA compared its findings with its own 2026 Brazilian Investor X-Ray report. That data shows 7% of Brazilians bet occasionally, while just 1% bet every day.
Among people who do bet, 11% were classified as high risk for addiction. The report states