According to the study conducted by the Fecomercio Institute for Research and Analysis in Rio de Janeiro, 33 percent of respondents cited the possibility of making money quickly as their main reason, while 25.4 percent viewed betting as a way to earn additional income.   Annual spending on online betting is estimated to reach 2.2 billion reais (431 million dollars)—more than three times the amount estimated for Christmas shopping.

  Furthermore, the research identified signs of difficulty in controlling the habit.

Specifically, 22.3 percent of those who bet reported having trouble stopping, and 29.1 percent admitted to feeling guilty about betting.

  Additionally, 34.8 percent stated they had been criticized by others for this behavior, and 6.9 percent noted that betting had caused harm to themselves or others.

  These findings add to other recent studies on the economic impact of “bets”—the term used in Brazil for sports betting platforms and other fixed-odds games.

  In light of the financial risks, Brazil’s regulated market will—starting in January 2025—prohibit the offering of credit for betting, sign-up bonuses designed to attract players, and the use of credit cards for such purposes.

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