Nationally representative survey reveals young age, male sex, and speculative investing as key predictors of online betting, indicating the need for targeted digital consumer regulations.
Brazil has rapidly become one of the world’s largest online betting markets, raising public health and consumer-protection concerns in a newly regulated environment. Using data from a nationally representative Brazilian survey, the 2023–2024 X-Ray of the Brazilian Investor ( N = 10,305), this study examined demographic, digital, financial, and psychosocial correlates of fixed-odds online betting participation. Logistic regressions showed that participation was most strongly associated with younger age, male sex, and constant internet use. Compared with adults aged 60+, respondents aged 18–34 had substantially higher odds of betting (OR = 7.30, 95% CI [5.38, 10.08]); men also had higher odds than women (OR = 2.32, 95% CI [2.04, 2.63]), as did constant internet users compared with non-users (OR = 4.62, 95% CI [2.53, 9.48]). High-risk/high-complexity investment profiles were also positively associated with betting (OR = 1.86, 95% CI [1.28, 2.68]), whereas saving was negatively associated (OR = 0.76, 95% CI [0.66, 0.88]). Findings suggest that regulatory strategies in emerging betting markets should prioritize youth exposure, digital accessibility, and intersections between gambling and speculative financial behavior.
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Magini et al. (2026) studied this question.
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