Blask x BNLData: Brazilian iGaming Market in 2025: Licensing gap, market leaders, and player profile.

BNLData has launched a partnership with Blask, an AI-based market intelligence platform for iGaming. In this first article, the company produced a report on the performance of the main betting platforms in the year 2025.

The Brazilian iGaming market continues to expand under the new regulatory framework, but data from Blask shows that the gap between licensed and unlicensed operators remains substantial. By 2025, 520 betting and casino brands are active in Brazil, while only 157 hold a local license, meaning that more than two-thirds of the market still operates outside the regulated framework.

Licensed Market: Betano expands its leadership.

Within the licensed segment, market leadership is becoming increasingly concentrated. Betano has significantly strengthened its position in the last year, increasing its market share from 17,18% to 23,6%.

Bet365 occupies second place, growing from 8,45% to 10,16%, while Superbet recorded one of the fastest expansions in the market, rising from 4,26% to 6,96%.

Together, these three brands dominate the regulated betting landscape in Brazil.

Top 20 operators: regulation is already reshaping the market.

According to data from Blask, the 20 most popular operators in Brazil, combining licensed and offshore (international) brands, are: Betano, Bet365, SportingBet, Esportes da Sorte, Superbet, Betnacional, 7Games, Estrelabet, Vaidebet, Onabet, Blaze, H2Bet, Betao, Pix Bet, Bet7K, CassinoPix, BullsBet, Novibet, R7.bet and Brabet.

Notably, Brabet is the only brand in the Top 20 that does not hold a Brazilian license, indicating that regulatory pressure is already pushing international operators out of the most visible segment of the market.

Note: “CEB (US$)” likely refers to Betting Volume or Revenue in US Dollars. “BAP o” may be a stake metric. “APS” may be Audience/Users. The emojis in the Platform and Vertical columns were interpreted based on common context (💬 for website/app, ⚽ for sports, 🎰 for casino).

Market Dynamics in 2025: Regulation, Advertising, and the Sports Calendar

Throughout 2025, the Brazilian iGaming market showed overall growth, with two clearly defined periods of decline. This assessment is based on the Blask Index, a composite metric developed by Blask that aggregates brand visibility, user interest, and operator activity in regulated and offshore segments to track market dynamics in real time.

The first slowdown occurred in January, coinciding with the launch of the new regulatory regime.

The second drop was observed between July and September, driven by a sharp reduction in advertising volumes following stricter regulatory requirements, the end of the FIFA Club World Cup, and the absence of other major sporting events favorable to betting.

Starting in September, market activity recovered with the return of the major European football leagues, restoring demand for betting and boosting growth.

Profile of the Brazilian player: wide age distribution and focus on income.

Data from Blask shows a relatively uniform age distribution among Brazilian gamers:

⇒ 18–24 years: 29%

⇒ 25–34 years: 25%

⇒ 35–44 years: 22%

⇒ 45–54 years: 24%

The largest income group among players earns R$40.000–60.000 per year (30%), followed by R$60.000–80.000 (25%).

Most players are salaried employees (40%).

In terms of education, 30% of the players have only completed primary/secondary education, while 25% have a higher education diploma (technical course/college) and another 25% have a university degree.

Motivation: Profit over entertainment.

In Brazil, the motivation of players is heavily driven by finances.

Among sports bettors, 71% cite winning money as the main reason for betting, while 50% say it makes watching sports more exciting (multiple choice survey).

For online casino players, 60% identify winning money as the main motivation, while enjoying the gameplay comes in second place, with 35%.

Most popular online casino games

Based on the number of brands offering them, the most widespread online casino titles in Brazil as of January 11, 2026 are:

Gates of Olympus 1000 (177 brands), Aviator (155), Sweet Bonanza 1000 (144), Fortune Tiger (137), Sugar Rush 1000 (136), Gates of Olympus (134), Gates of Olympus Super Scatter (133), Spaceman (127), Big Bass Splash (126) and Fortune Rabbit (121).

perspectives

Data from Blask indicates that Brazil is rapidly transitioning to a licensed iGaming market, where visibility, advertising capacity, and long-term growth increasingly favor regulated operators. While seasonality and sports calendars continue to shape short-term dynamics, regulatory compliance and brand scale are emerging as decisive competitive advantages in one of the world's fastest-growing betting markets.

About Blask

Blask is an AI-powered market intelligence platform for iGaming. The company transforms fragmented signals from open sources into real-time insights into brand visibility, player demand , and core revenue metrics, helping teams act first, spend smarter, and reduce risk in global markets.