How will the gambling sector evolve in 2025? We asked the industry to consider how key trends in 2024 will progress into this year Ushering in 2025, the sector has hit the ground running in preparation for ICE Barcelona in a couple of weeks. Across the pond a couple of US states have kicked off their legislative sessions this year with bills supporting online gaming launches. But the holiday period provided enough downtime to reflect on ways the gaming industry evolved in 2024 and then consider what will likely dominate the headlines and earnings calls in the year to come. Brazil’s legal online betting launch captured the most eyes in 2024’s news flow, and how the licensed market will navigate its infancy stages will pique the sector’s interest in coming months. Last summer, 113 operators applied for early-stage licences to enter the market, hoping to be among the first to launch on 1 January. Brazil’s SPA then awarded 66 approvals at the turn of the year, including 14 full and 52 provisional licences. The latter enabling operators to provide services while finalising necessary documents and certifications required by the regulator. Legal betting market in Brazil will remain fluid in its infancy Clyde Harris, partner at tech consultancy Circle Squared, predicts that while Brazil will remain top line news in 2025, it will take time for the regulator to iron out the kinks and enforce all necessary regulations. Ultimately, its first year will likely not be an indication of how the jurisdiction will pan out longer term. “Brazil will be very fluid as the market recalibrates and the impact of new regulations ripple through,” Harris tells iGB. “The start of the year saw the ‘end of the beginning’ but definitely not the end of the period of significant change in Brazil. It will take time for the market to settle down and for the effects of all the changes to ripple through. Don’t be surprised to see additional regulations or changes to existing regulations as the authorities keep a close eye on the environment they have created,” Harris adds. Harris also believes the entry of international players into Brazil will have a significant impact on how the market plays out over the next 12 months, particularly as players test their loyalty to local brands and dabble in the new products coming online. Both BetMGM and Caesar’s Sportsbook’s Big Brazil entered the fray in the first wave of licensees. “The ability of these operators to leverage their existing technical and operational capabilities along with their financial muscle and marketing know-how will likely see them quickly shake up the market and grab very significant market share,” he says. There won’t be another Brazil in 2025 While there may be new market launches in 2025, none will have the impact of Brazil, notes Harris. Other LatAm jurisdictions will make significant changes to their gaming regulations and provide opportunities for legal gaming, but the factors that have made Brazil so attractive won’t be found elsewhere at the moment, he believes. “Brazil is the tenth biggest economy in the world by GDP, has a population of over 200 million and already had a well-established betting industry that was in a very unusual position. “That confluence won’t be repeated anywhere else in 2025. There will definitely be territories that attract outside interest, including the rest of LatAm, Canada and parts of Africa but there won’t be the same intense ‘gold rush’ focus on one territory,” Harris concludes. Is 2025 the year we embrace new betting options? Every year the sector goes wild for the promise of new and novel betting options, understandably considering the legacy betting product has not changed much in years. Stock and crypto trading platform Robinhood revealed in December that it is eyeing an entry into the betting fray in some form or another. It’s too early to tell what form a Robinhood betting product might take but its trading products have gained huge popularity for simple and innovative user experiences. It also built a hugely strong brand among novice retail traders. Ahead of the US general election in November, prediction markets in the US were able to provide legal wagers on the election for the first time. By 6 November, the day after Trump’s election win, derivatives exchange platform Kalshi had taken in more than $700 million (£542.5 million/€651.5 million) in contracts for the election cycle. FTP and sweepstakes in betting Mick d’Ancona, another Circle Squared partner believes the sector will embrace more new products like this in 2025. He notes: “Alternative ways to ‘bet’ got a lot of attention in 2024 as the industry sat up and took notice of the volumes being traded on sweepstake products and Robinhood’s binary option market on the US election. “The circumstances that drive interest in these new products are not about to disappear overnight so don’t expect the demand for these products to disappear either. Until licensed sports betting is an available option [in all US states], or these alternative offerings are removed as an option, there will continue to be a significant market for sweepstakes and binary options.” Sebastian Lewis, co-founder at Plucky, a free-to-play games and pool betting operator, licensed by the UK Gambling Commission, predicts a shift in the psyche of bettors this year. Notably, he believes social betting styles will return but in new forms. “I expect that the next 12 months will see a shift in the general psyche to engage in more direct ways once again, both in everyday society, but particularly in the betting space. We will realise once again the enhanced emotions and tensions that come with shared wagering experiences,” Lewis explains. “Sweepstakes (pooled betting to our American friends) and social wagering are so commonplace and much-loved within workplaces, families and friend groups. This could be the year that we harness this segment, empowering bettors with the social wagering opportunities they love, but in a modern day context. “What’s been forgotten in the chase for ‘what’s next’ is a focus on what already works so well for us as social animals,” he concludes. Some markets are soon to pull back and restrict sponsorship allowances for gambling companies, to help protect minors and higher-risk bettors. The UK will enforce its ban on front-of-shirt sponsorships in the Premier League as of the 2025-26 season, which will kick off in August. These measures are already challenging the sector to look for new and innovative ways to market their brands within sports. Australia’s government is considering the role of sports sponsorships in its ongoing review and reform of gambling advertising in the country. What exactly this reform will enforce (and when) is still publicly unknown as the government has remained quiet on these details. Although prime minister Anthony Albanese has suggested a full ban on online gambling ads and restrictions on radio and TV ads, particularly around live sports streams are in discussion, this review was delayed in 2024. Outside of these new rules, Betting Hero co-founder and president Jai Maw expects operators and suppliers to consider new ways to innovate on long-term sponsorship deals. “To achieve profitability and optimise customer acquisition and retention, leading operators will closely evaluate the effectiveness of their sponsorships. Sports teams and leagues must innovate, offering added value to maintain and attract partnerships, ensuring mutual benefits in a scrutinised environment,” Maw tells iGB. In France, the gambling regulator has also ordered the four top earning online operators to reduce their planned promotional and marketing spend in 2025 and reconsider their sponsorship deals to help better protect minors. It will be interesting to see how the sector innovates in the face of a renewed approach to sports advertising. Looking ahead Of course 2025 will also see the continued fight against the black market’s proliferation. Many are hoping for better enforcement efforts to stamp out illegal operations but these will depend on whether governments and regulators are truly committed to the fight. The year is sure to be another pivotal one for gambling in many ways. Happy New Year!

“The ability of these operators to leverage their existing technical and operational capabilities along with their financial muscle and marketing know-how will likely see them quickly shake up the market and grab very significant market share,” he says. Sebastian Lewis, co-founder at Plucky, a free-to-play games and pool betting operator, licensed by the UK Gambling Commission, […]

“The ability of these operators to leverage their existing technical and operational capabilities along with their financial muscle and marketing know-how will likely see them quickly shake up the market and grab very significant market share,” he says.

Sebastian Lewis, co-founder at Plucky, a free-to-play games and pool betting operator, licensed by the UK Gambling Commission, predicts a shift in the psyche of bettors this year. Notably, he believes social betting styles will return but in new forms.

“I expect that the next 12 months will see a shift in the general psyche to engage in more direct ways once again, both in everyday society, but particularly in the betting space. We will realise once again the enhanced emotions and tensions that come with shared wagering experiences,” Lewis explains.

Every year the sector goes wild for the promise of new and novel betting options, understandably considering the legacy betting product has not changed much in years. Stock and crypto trading platform Robinhood revealed in December that it is eyeing an entry into the betting fray in some form or another.

Legal betting market in Brazil will remain fluid in its infancy

Ushering in 2025, the sector has hit the ground running in preparation for ICE Barcelona in a couple of weeks. Across the pond a couple of US states have kicked off their legislative sessions this year with bills supporting online gaming launches. But the holiday period provided enough downtime to reflect on ways the gaming industry evolved in 2024 and then consider what will likely dominate the headlines and earnings calls in the year to come.

While there may be new market launches in 2025, none will have the impact of Brazil, notes Harris. Other LatAm jurisdictions will make significant changes to their gaming regulations and provide opportunities for legal gaming, but the factors that have made Brazil so attractive won’t be found elsewhere at the moment, he believes.

Brazil’s legal online betting launch captured the most eyes in 2024’s news flow, and how the licensed market will navigate its infancy stages will pique the sector’s interest in coming months. Last summer, 113 operators applied for early-stage licences to enter the market, hoping to be among the first to launch on 1 January.

“The circumstances that drive interest in these new products are not about to disappear overnight so don’t expect the demand for these products to disappear either. Until licensed sports betting is an available option [in all US states], or these alternative offerings are removed as an option, there will continue to be a significant market for sweepstakes and binary options.”

“The start of the year saw the ‘end of the beginning’ but definitely not the end of the period of significant change in Brazil. It will take time for the market to settle down and for the effects of all the changes to ripple through. Don’t be surprised to see additional regulations or changes to existing regulations as the authorities keep a close eye on the environment they have created,” Harris adds.

There won’t be another Brazil in 2025

Mick d’Ancona, another Circle Squared partner believes the sector will embrace more new products like this in 2025.

Although prime minister Anthony Albanese has suggested a full ban on online gambling ads and restrictions on radio and TV ads, particularly around live sports streams are in discussion, this review was delayed in 2024.

In France, the gambling regulator has also ordered the four top earning online operators to reduce their planned promotional and marketing spend in 2025 and reconsider their sponsorship deals to help better protect minors. It will be interesting to see how the sector innovates in the face of a renewed approach to sports advertising.

Is 2025 the year we embrace new betting options?

“To achieve profitability and optimise customer acquisition and retention, leading operators will closely evaluate the effectiveness of their sponsorships. Sports teams and leagues must innovate, offering added value to maintain and attract partnerships, ensuring mutual benefits in a scrutinised environment,” Maw tells iGB.

Clyde Harris, partner at tech consultancy Circle Squared, predicts that while Brazil will remain top line news in 2025, it will take time for the regulator to iron out the kinks and enforce all necessary regulations. Ultimately, its first year will likely not be an indication of how the jurisdiction will pan out longer term.

Some markets are soon to pull back and restrict sponsorship allowances for gambling companies, to help protect minors and higher-risk bettors. The UK will enforce its ban on front-of-shirt sponsorships in the Premier League as of the 2025-26 season, which will kick off in August. These measures are already challenging the sector to look for new and innovative ways to market their brands within sports.

FTP and sweepstakes in betting

It’s too early to tell what form a Robinhood betting product might take but its trading products have gained huge popularity for simple and innovative user experiences. It also built a hugely strong brand among novice retail traders.

Of course 2025 will also see the continued fight against the black market’s proliferation. Many are hoping for better enforcement efforts to stamp out illegal operations but these will depend on whether governments and regulators are truly committed to the fight. The year is sure to be another pivotal one for gambling in many ways. Happy New Year!

Harris also believes the entry of international players into Brazil will have a significant impact on how the market plays out over the next 12 months, particularly as players test their loyalty to local brands and dabble in the new products coming online. Both BetMGM and Caesar’s Sportsbook’s Big Brazil entered the fray in the first wave of licensees.

He notes: “Alternative ways to ‘bet’ got a lot of attention in 2024 as the industry sat up and took notice of the volumes being traded on sweepstake products and Robinhood’s binary option market on the US election.

“Sweepstakes (pooled betting to our American friends) and social wagering are so commonplace and much-loved within workplaces, families and friend groups. This could be the year that we harness this segment, empowering bettors with the social wagering opportunities they love, but in a modern day context.

“Brazil is the tenth biggest economy in the world by GDP, has a population of over 200 million and already had a well-established betting industry that was in a very unusual position.

Brazil’s SPA then awarded 66 approvals at the turn of the year, including 14 full and 52 provisional licences. The latter enabling operators to provide services while finalising necessary documents and certifications required by the regulator.

“That confluence won’t be repeated anywhere else in 2025. There will definitely be territories that attract outside interest, including the rest of LatAm, Canada and parts of Africa but there won’t be the same intense ‘gold rush’ focus on one territory,” Harris concludes.

“What’s been forgotten in the chase for ‘what’s next’ is a focus on what already works so well for us as social animals,” he concludes.

“Brazil will be very fluid as the market recalibrates and the impact of new regulations ripple through,” Harris tells iGB.

Outside of these new rules, Betting Hero co-founder and president Jai Maw expects operators and suppliers to consider new ways to innovate on long-term sponsorship deals.

Australia’s government is considering the role of sports sponsorships in its ongoing review and reform of gambling advertising in the country. What exactly this reform will enforce (and when) is still publicly unknown as the government has remained quiet on these details.

Ahead of the US general election in November, prediction markets in the US were able to provide legal wagers on the election for the first time. By 6 November, the day after Trump’s election win, derivatives exchange platform Kalshi had taken in more than 0 million (£542.5 million/€651.5 million) in contracts for the election cycle.