Growth of online gaming in Brazil could impact spending
Online gaming has been growing in popularity among Brazilian consumers. This has generated greater interest from foreign gambling companies, but it can also impact consumer spending.
The average Brazilians spent around 68.2 billion reais in June on betting platforms abroad. This analysis is from Itaú Unibanco, based on data from the Central Bank. This puts Brazil among the six largest sports betting markets in the world.
Meanwhile, a new Web3 memecoin casino has been enjoying great success. The Memebet Token ($MEMEBET) raised over $268,000 in its launch week.
The rise in popularity of online gaming in Brazil and its impact on consumer spending
The rise in popularity of online gaming is already showing signs of impacting the Brazilian economy. There are also concerns about sports betting addiction. Consumer surveys indicate that Brazilians are betting with amounts they would normally spend on other goods and services.
Household spending on gambling jumped to 1.9% of income this year, double the amount from 2018. The data is according to a report by Banco Santander. Another study by PwC's Strategy& consultancy showed that gambling will account for 38% of entertainment budgets in 2023. A considerable increase, compared to 10% in 2018.
This also impacts the economy, as money from online gambling and betting would normally go to the local shopkeeper, boosting the local economy. But now it is being diverted to the gambling and betting market.
But Brazil is not the only major global economy to experience both the positive and negative effects of online gambling. There is another study led by Brett Hollenbeck. It showed that US states that legalized online gambling had a negative impact on average credit scores.
A study by economists at the Universities of Kansas, Northwestern and Brigham Young reinforces this concern. They found that every dollar spent on gambling takes the equivalent of $2 out of household savings. This increases credit card debt by 8%.
At the same time, we are seeing the growth of new online casino projects. One example is the Memebet Token presale, which has already raised over $268,000. The project is considered the first memecoin casino on Web3 and has been a huge success in the market.
Memebet Token Raises Over $268,000 in Launch Week
Since its launch, the Memebet Token, Web3’s first memecoin casino, has raised over $268,000. Investors are eager to secure an early bird advantage by purchasing the $MEMEBET token at rock-bottom prices.
The project developers are focused on the growing demand for platforms like Memebet Token, which is a significant step towards integrating memecoins into the Web3 economy.
The pre-sale has only recently launched, but it is already showing great promise. This is because the online gaming industry is set to explode in the next five years. In addition, the US Federal Reserve has signaled a 50 basis point interest rate cut.
So the Fed news had a very real impact on the volatile memecoin market. CoinGecko concluded that the sector grew 6.9% in 24 hours, reaching an impressive market capitalization of US$45.7 billion.
Token active in a bull market
With the growth of the cryptocurrency and online gambling sectors, Memebet Token is in a unique position. It could become the first memecoin casino on Web3. This is because it simultaneously covers the GambleFi and memecoin sectors, two of the fastest-growing sectors at the moment.
Memebet Casino’s native utility asset is the $MEMEBET token. Holding and using it unlocks a range of benefits for players, including airdrop rewards, special bonuses, and access to upcoming Memebet Casino Lootboxes, which will feature real-world prizes and casino bonuses.
In the Telegram-integrated casino, players can wager their memecoins on a wide range of online gaming and betting events.
The Memebet Token will initially allow holders of Dogecoin ($DOGE), Shiba Inu ($SHIB), Pepe ($PEPE), Bonk ($BONK), and Floki ($FLOKI) to play, but the team could bring a major expansion to this list.
The project is also doing a $400 million airdrop of $MEMEBET. To participate, simply purchase the $MEMEBET token, wait for the casino to launch before the pre-sale ends, and start playing and betting to secure rewards.
How to pre-order $MEMEBET
Interested investors can purchase $MEMEBET tokens at a current pre-sale price of just $0.0253. Simply visit the project website and connect your crypto wallet, such as MetaMask or Best Wallet.
$MEMEBET tokens can be purchased using ETH, USDT, BNB, POLY or bank card. Only purchases made on the Ethereum network (ETH, USDT or bank card) will be sent immediately to wallets. After purchasing $MEMEBET, add the token address to your wallet to view your tokens.
The Memebet Token has undergone a full audit by Coinsultwhich found no critical issues with its code.
Join the Memebet community on X and no Telegram for the latest news and updates on the project.
Disclaimer: This article is for informational purposes only and does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article.