2024-09-17 01:00:05
LETTER FROM RIO DE JANEIRO
At the Transamerica Expo, which brings together, among others, betting sites and virtual casinos from several countries. In Sao Paulo, Brazil, on April 24, 2024. LEANDRO CHEMALLE / ZUMA PRESS / MAXPPP
In 2016, Carlos (not his real name), a 32-year-old sports coach from Belo Horizonte (Minas Gerais), in the southeast of Brazil, moved to Rio de Janeiro, a city known for its fitness culture. Far from his loved ones, he started betting on sports betting on the British platform Sportingbet. He quickly became addicted to it. “I would fake stomach pains to spend hours in the toilet playing in peace.”confided this football enthusiast, during a meeting organized by the association Gamblers Anonymous (JA), a support network for people addicted to gambling, in Flamengo, a wealthy neighborhood of Rio de Janeiro.
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In Brazil, the gambling and sports betting market is booming. Between 2020 and 2023, the number of companies in the sector increased from 51 to 308, according to the PwC firm. In 2023, they generated 120 billion reais (around 19.4 billion euros) in revenue. And for good reason: in the absence of regulation, the platforms, often foreign, enjoy almost total freedom to massively promote their services on television and social networks, often relying on local celebrities, such as the footballer Neymar. And many Brazilians are falling into the trap: according to a survey by the Locomotiva Institute, published in August, 25 million new people bet online in the first seven months of 2024, an average of 3.5 million new bettors per month. In total, 52 million people have already taken part in this activity in this country of 215.3 million inhabitants.
“More and more people who have become addicted are contacting us,” worries one of the JA members. According to him, “250 new people have registered” in the twelve groups of the organization present in Rio de Janeiro, between the end of the pandemic, in 2020, and mid-2023.
“I even had to borrow money from friends”
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At Flamengo, the JA room, located behind a church, is full. In addition to Carlos, about thirty other people listen attentively, sitting on school chairs, as compulsive gamblers share their testimonies. Many of them say they have been ruined because of their addiction. According to Itau Bank, Brazilians lost 23.9 billion reais of the 68.2 billion reais spent on online betting between June 2023 and June 2024. This is while 40% of gamblers earn less than 5,200 reais (848 euros) per month, according to PwC. As a result, 86% of them are in debt, and 64% appear on the insolvency lists of Serasa, the organization that manages individuals’ credit histories. “I even had to borrow money from friends and family who earn less than me. [pour financer mes paris] »Carlos confides. When he joined the JA in July 2022, his debt amounted to 80,000 reais.
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What are the underlying causes of gambling addiction in Brazil’s sports betting market?
The Dark Side of Brazil’s Booming Sports Betting Market
In the vibrant city of Rio de Janeiro, a growing concern is emerging amidst the excitement of sports betting. Behind the glitz and glamour of online platforms and lavish promotions, a rising number of Brazilians are succumbing to the pitfalls of gambling addiction. The story of Carlos, a 32-year-old sports coach from Belo Horizonte, is a stark reminder of the devastating consequences of unchecked betting.
A Growing Epidemic
In 2016, Carlos, who has chosen to remain anonymous, moved to Rio de Janeiro and began betting on sports on the British platform Sportingbet. He quickly became hooked, leading to a downward spiral of addiction. “I would fake stomach pains to spend hours in the toilet playing in peace,” he confesses, highlighting the desperation and secrecy that often accompany gambling addiction.
The alarming rise of sports betting in Brazil is mirrored by the exponential growth of companies in the sector. Between 2020 and 2023, the number of companies jumped from 51 to 308, generating a staggering 120 billion reais (approximately 19.4 billion euros) in revenue. The lack of regulation has created a Wild West scenario, where foreign platforms enjoy near-total freedom to promote their services liberally on television and social media, often enlisting the help of local celebrities like footballer Neymar.
The Devastating Consequences
As a result, a staggering 25 million new Brazilians have taken to online betting in the first seven months of 2024, with an average of 3.5 million new bettors per month. The Locomotiva Institute’s survey reveals that 52 million people have already engaged in online sports betting in this country of 215.3 million inhabitants.
The human cost of this boom is evident. “More and more people who have become addicted are contacting us,” worries a member of Gamblers Anonymous (JA), a support network for those struggling with addiction. Since the end of the pandemic in 2020, the organization has seen 250 new registrations in its twelve Rio de Janeiro groups.
Personal Stories of Ruin
In a crowded JA room in Flamengo, behind a church, the testimonies of compulsive gamblers paint a stark picture of financial ruin and personal devastation. Many of those present have been forced to borrow money from friends and family to feed their addiction, often with disastrous consequences.
According to Itau Bank, Brazilians lost a staggering 23.9 billion reais of the 68.2 billion reais spent on online betting between June 2023 and June 2024. This staggering figure is all the more concerning when considering that 40% of gamblers earn less than 5,200 reais per month.
The Need for Regulation and Awareness
As Brazil grapples with the consequences of its booming sports betting market, it is imperative that policymakers take immediate action to regulate the industry and protect its citizens. The promotion of responsible gambling practices, alongside support networks like Gamblers Anonymous, is crucial in preventing further devastation.
The story of Carlos, and the countless others like him, serves as a poignant reminder of the dark side of Brazil’s sports betting boom. As the country looks to the future, it is essential that it acknowledges the human cost of this epidemic and takes concrete steps to address it.
Keywords: Sports betting, Brazil, addiction, Gamblers Anonymous, online betting, regulation, responsible gambling.
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H1: The Dark Side of Brazil’s Booming Sports Betting Market
H2: “I even had to borrow money from friends”
H3: A Growing Epidemic
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H3: The Need for Regulation and Awareness
What are the warning signs of gambling addiction in Brazil’s online sports betting market?
The Dark Side of Brazil’s Booming Online Sports Betting Market: A Tale of Addiction and Ruin
Brazil’s online sports betting market is experiencing unprecedented growth, with the number of companies in the sector increasing from 51 to 308 between 2020 and 2023. The revenue generated by these companies has also skyrocketed, reaching 120 billion reais (approximately 19.4 billion euros) in 2023. However, behind this boom lies a darker reality: the addiction and financial ruin of thousands of Brazilians.
The Rise of Gambling Addiction in Brazil
Carlos, a 32-year-old sports coach from Belo Horizonte, is one of the many Brazilians who have fallen prey to the allure of online sports betting. He started betting on the British platform Sportingbet in 2016, and soon became addicted. “I would fake stomach pains to spend hours in the toilet playing in peace,” he confides, highlighting the extreme measures he took to feed his addiction.
Carlos is not alone. According to a survey by the Locomotiva Institute, 25 million new people bet online in the first seven months of 2024, an average of 3.5 million new bettors per month. This brings the total number of people who have taken part in online sports betting in Brazil to 52 million, out of a population of 215.3 million.
The Consequences of Addiction
The consequences of gambling addiction are devastating. Many Brazilians who have become addicted to online sports betting have lost their life savings, accumulated debt, and even resorted to borrowing money from friends and family. According to Itau Bank, Brazilians lost 23.9 billion reais of the 68.2 billion reais spent on online betting between June 2023 and June 2024.
The financial burden of gambling addiction is often exacerbated by the fact that many gamblers earn low incomes. According to PwC, 40% of gamblers earn less than 5,200 reais (848 euros) per month. As a result, 86% of them are in debt, and 64% appear on the insolvency lists of Serasa, the organization that manages individuals’ credit histories.
The Underlying Causes of Gambling Addiction in Brazil’s Sports Betting Market
So, what are the underlying causes of gambling addiction in Brazil’s sports betting market? One of the main factors is the lack of regulation in the sector, which allows foreign companies to massively promote their services on television and social networks, often using local celebrities such as Neymar. This aggressive marketing strategy has contributed to the normalization of online sports betting, making it seem like a harmless form of entertainment.
Additionally, the ease of access to online sports betting platforms has made it easier for Brazilians to engage in this activity. The convenience of being able to bet from the comfort of one’s own home, or even on-the-go, has removed many of the barriers that previously prevented people from participating in gambling activities.
The Rise of Support Groups
In the face of this growing crisis, support groups like Gamblers Anonymous (JA) are providing a lifeline to those affected by gambling addiction. The JA room in Flamengo, Rio de Janeiro, is filled with people who have lost everything due to their addiction. Many of them share their testimonies, highlighting the devastating consequences of their actions.
Carlos, who joined the JA in July 2022, is one of them. When he joined, his debt amounted to 80,000 reais. “
