BRASILIA (Reuters) – Brazilians are wagering up to 30 billion reais ($5.1 billion) per month on online betting, Brazilian central bank executive director Rogerio Lucca told lawmakers on Tuesday, revising a previous estimate of 20 billion reais made last year.
Also speaking at a congressional inquiry into the sector, central bank governor Gabriel Galipolo said the Finance Ministry’s betting and prizes secretariat now estimates that up to 94% of wagered amounts are returned as prizes, compared with the central bank’s earlier assumption of 85%.
($1 = 5.9273 reais)
(Reporting by Marcela Ayres; Editing by Alistair Bell)
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