The first month of Brazil’s regulated market is behind us, and one question in the industry is: What was the channelisation rate for January?
The first month of Brazil’s regulated betting market is behind us, and one of the biggest questions in the industry is: What was the channelisation rate for January?
According to early estimates published on the Blask platform, Brazil’s betting market generated a total of around $154m in Gaming Revenue in January 2025. Here’s how that breaks down:
- $101m (63.89%) from Brazil licensed operators
- $53m (34.17%) from internationally licensed operators
This means nearly one-third of all betting activity still occurred outside the local regulated market, a key challenge for policymakers and licensed operators alike.
Note: The figures are estimates based on data analysis and are not official statistics.
What industry leaders are saying
As regulation takes hold, stakeholders across the industry are closely monitoring its impact.
According to the National Association of Games and Lotteries (ANJL), “federal regulation was a step in the right direction, but there is still work to be done in ensuring more operators migrate to the legal framework and in educating consumers on the benefits of betting within a regulated environment.”
Thomas Carvalhaes, country manager of Stake.bet.br, also weighed in: “When analysing newly regulated markets, it’s important to be pragmatic. Historically, no market — whether in Europe or North America — has gotten it completely right from the start.
“Each market is unique, and I believe the Brazilian regulator has made significant strides in several areas. As licensed operators, our responsibility is to support the process by working with regulators and authorities to identify any gaps and help address them effectively.”
From a market perspective, Alan Brincat, Director at Propane, one of Brazil’s most established iGaming marketing agencies, highlights an important trend: “These numbers don’t come as a surprise. The government still has a long way to go when it comes to effective enforcement. What’s more concerning is that most licensed operators experienced a decline in growth during January rather than an uptick.
This could be due to a number of factors, including the Brasileirao offseason, initial domain blocking in early Q4, but also because many operators scaled back their marketing efforts until they adapt to the new compliance requirements.”
How these insights are collected
These insights are powered by Blask, an AI-driven market analytics platform that provides iGaming businesses with real-time intelligence on key market metrics. By analysing billions of search queries, Blask offers operators up to 95% accuracy in tracking market size, competitor performance, and channelisation trends.
For those looking to navigate Brazil’s evolving betting landscape with data-driven decision-making, access to reliable, real-time insights will be critical.