Brazilians have reached an approximate of 11.1 billion US dollars in online betting between January and November of last year. This is an equivalent of R$ 54 billion.

The value corresponds to companies’ in the sector remittances operating abroad. This estimate was based by Folha. It was based on the most recent statistics released by the Central Bank.

The disaggregation of the data allows for an approximate calculation of the volume paid in transactions involving games and bets. This is despite of the other operations recorded in the same balance of payment account.

The total amount of resources in the 11-month period is greater than the amount generated by Brazilian beef exports in the entire past year. Product sales reached 9.5 billion US dollars (R$ 46.3 billion). This is according to the Secex or the Secretariat of Foreign Trade, linked to the Mdic or the Ministry of Development, Industry, Commerce, and Services.

Interestingly, the country is one of the largest exporters of beef in the world. The approximate 8.9 billion US dollars (R$ 43.3 billion) is the total spent by Brazilians on foreign betting sites. This amount corresponds to funds transferred to be shared among the winners and the amount wagered by players.

Another fee refers to the service fee retained by the sites operating the bets. It amounts to 2.2 billion US dollars (R$10.7 billion). The offer of sports betting sites has been allowed in Brazil. This follows a law passed during 2018, the government of MDB or Michel Temer. Later on, advertisements from the sector have dominated open TV, especially during football games.