‘Bets’ lead Brazilians to default, research shows

Around 42% of Brazilians who say they spent some amount on sports betting over the course of a month were in debt, according to a survey carried out by the DataSenado Institute.

The percentage involves the number of bettors with accounts overdue for more than three months.

In total, more than 20 million people over the age of 16 admit to having bet on “bets” — the number is equivalent to 13% of the population in this age group.

The survey was carried out between the 5th and 28th of June and interviewed almost 22 thousand people.

According to DataSenado, the majority of those who say they bet carry out paid work (68%). Brazilians with a family income of up to two minimum wages were those who bet the most (52%) over the course of a month.

Next, there are bettors with family income between two and six minimum wages (35%); and above six minimum wages (13%).

Only 20% of those who bet have incomplete higher education, while 23% said they had not completed primary education. 40% of respondents have completed secondary education.

The debate around “bets” gained strength after a study produced by the Central Bank showed that around 24 million individuals participate in gambling and betting in the country.

Among the beneficiaries of Bolsa Família, the main income transfer program, more than 5 million users allocated money to virtual betting shops in August alone. More than 3 billion were spent during this period — an amount that corresponds to 20% of the total amount transferred by the program.

The BC estimate considers consumers who made at least one transfer via Pix to these companies in August. The vast majority of gamblers are between 20 and 30 years old, the report points out.

The average monthly value of transfers increases with age. For younger people, contributions reach 100 reais per month. The older ones allocate more than 3 thousand reais each month.

*With information from the Carta Capital website

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