Legal Sports Betting In Brazil
The current interpretation of Brazilian law deems sports betting unregulated, but a 2018 law signed by then-president authorized the country’s Ministry of Finance to legalize and regulate sports betting throughout the country. This law gave the Ministry a two-year window to do so, and Brazil appears to be on track to legalize sports betting across the country at some point in 2021. There are currently no domestic sportsbooks available to Brazilian fans, but online sportsbooks remain massively popular throughout the country. As one of the pre-eminent football powers in the world, Brazil predictably sees its heaviest betting action on the national team, especially during the FIFA World Cup.
State-regulated sports betting in Brazil has seen some delays owing to disagreements over how many licenses will be issued. While 50 licenses were initially planned, that number is likely to decrease as Brazil goes through a public consultation process on the practice of sports betting. Mobile sports betting is also an object of debate as lawmakers weigh the benefits of universal availability against the difficulty of regulating and constraining online betting. If and when Brazil legalizes sports betting, it is expected to handle roughly $1.6 billion in sports wagers annually.
Legal Sports Betting In Brazil – COVID-19 Update
One of the most interesting developments in Brazilian sports betting came in June with the announcement that Brazil was looking to privatize its sports betting industry. The Brazilian government is currently dealing with a massive budget shortfall on account of the COVID-19 pandemic, and it doesn’t have millions of dollars to spend on operating and regulating sports betting right now. The hope is that private operators can improve the efficiency of sports betting in Brazil so that the country can increase tax revenues while decreasing public investment in the industry.
Retail sportsbooks remain closed for the most part, but online betting has been available throughout the duration of the pandemic. Brazilian Série A soccer has already resumed play with new social distancing restrictions, which has helped drive increased betting revenues in recent weeks. Brazilian sports betting, like the entire country and the world at large, is in a state of flux right now, but sports betting could also prove to be an invaluable financial tool as the country works toward economic recovery.
Legality Of Sports Betting In Brazil
The legality of sports betting in Brazil is currently in the midst of changing. Sports betting laws in Brazil were missing from many of the state governments’ lawbooks and there were no federal regulations over the activity. In 2007, a Brazilian Supreme Court ruled that if a gaming activity was not included in current gambling legislation then it was deemed to be illegal. Betting on sports was assumed to be prohibited in Decree-Law 3,688/41. However, this just meant that the industry was unregulated. Online operators were still accepting Brazilian sports bettors because there were no laws put in place to punish them if they joined.
More recently, former president Michel Temer signed a law in 2019 that gives the Ministry of Economy the ability to authorize online and land-based sports betting in Brazil. Provisional Measure 846/2018 gives the Ministry two years in order to come up with the proper regulations and also allows for a two-year extension if need be. The first draft of the regulations was submitted in September of 2019. The proposed rules would have operators pay a one-time licensing fee, and an annual fee of 1 percent of revenues generated to renew the license. Operators could also be required to pay additional monthly fees depending on the types of betting options offered. 50 licenses were initially projected, but that number is likely to decrease during ongoing deliberation. Despite delays, Brazilian legal sports betting in 2021 is on track. The rules don’t state anything about online overseas sportsbooks, which continue to serve Brazilians in the meantime.
Legal Super Bowl Betting In Brazil
Thanks to international sports betting sites, anywhere you have internet or cellular service is a legal place to bet on the Super Bowl in Brazil. These online sportsbooks are located overseas, therefore they are not restricted by local Brazilian regulations. This means that regardless of the laws of the states in Brazil, local sports bettors can legally bet on the Super Bowl. As one of the biggest sporting events f the year, it makes sense that Brazil players would want to ensure they are able to find the best betting lines to put action on. That’s why legal sports betting sites like MyBookie pride themselves in offering some of the best sports betting options for Brazilian sports bettors during the Big Game. Those taking action on the Super Bowl can legally do so in Brazil thanks to online sportsbooks.
Is Online Sports Betting Legal In Brazil?
Online sports betting is legal in Brazil and is set to be regulated over the next few years. Betting online is both a popular and lucrative business. With the signing of a decree by President Jair Bolsonaro to have regulated sports betting in Brazil in August, the country is one step closer to local and legal betting operators. Because it is legal to place wagers in the state, there is still over 70% of sports betting that happens online in Brazil. There are many online sportsbooks available to residents of the South American country that offer numerous odds on matchups around the world. Some of the most widely used legal online sportsbooks in the country include BetOnline, MyBookien SportsBetting, Bovada (Bodog).
Legal Brazil Sports Betting Sites
While you may not see land-based sports betting parlors in the streets of Brazil quite yet, legal Brazil sports betting sites are available to any sports fan in the country now. What’s important to note is that these sites actually operate in countries outside of Brazil. Because they are located outside the legal purview and jurisdiction of the Brazilian government, they can accept sports bettors from the country with no penalties. The lack of official sports betting laws in Brazil also makes it so that there are no penalties for users of these types of sites.
The offshore sportsbooks that we normally recommend are almost all available to residents of Brazil including MyBookie, BetOnline, and SportsBetting. Bovada, unfortunately, does not operate in Brazil but their sister company Bodog does. However, out of all of these sites, one in particular caters to the Brazilian market better than any other one. That site would be BetOnline. There are several factors as to why this is the case which we will explain in the review below. Users of this site can bet on sports in Brazil with the confidence that they will not get in trouble with the law and they will also be able to receive their payout on time.
BetOnline – Legal Sports Betting In Brazil
If you’re looking to gamble online at all and you’re located in Brazil, there is no better site to turn to then BetOnline. The site has been operating for over two decades and operates in countries all around the world. Best of all, BetOnline is guaranteed to have betting odds for regional soccer teams during the regular season in Brazil as well as for the international team when they play in various tournaments. BetOnline also has odds for Brazilian athletes who compete in the Olympics and for Brazilian MMA fighters so you always have someone to cheer for and bet on as well.
BetOnline also accepts all the major forms of cryptocurrency including BitCoin, LiteCoin, and Dash. That means you don’t have to worry about converting currency before you bet, instead, you make deposits and withdrawals with Bitcoin. Deposits and withdrawals are made almost instantly with this method.
Brazil Sports Betting Markets
Brazil’s two largest betting markets are São Paulo and Rio de Janeiro, with a combined population of over 18.8 million people. The most popular sport to bet on in Brazil is football (soccer), especially matches between the 20 clubs of the Brazilian Championship A Series, also known as Brasileiro. The Brazilian National Team is also massively popular. Their quadrennial appearances in the FIFA World Cup and Copa América are routinely viewed by tens of millions of Brazilians, and consequently, see a massive volume of wagering action. After soccer, volleyball is the second most popular sport in Brazil, with the most popular league being the Brazilian Men’s Volleyball Superliga. After volleyball, tennis, mixed martial arts, basketball, and futsal all have sizable national followings.
Where Brazil Sports Betting Revenue Goes
At this time sports betting revenue in Brazil is unregulated. That means that international online sportsbooks that accept Brazilian sports bettors don’t have to pay the country anything. It is because of this reason that many lawmakers support the push for a legal sports betting market in Brazil. The bill that passed that legalized sports betting in Brazil called for the government to take six percent of the handle from retail sportsbooks and eight percent off the top for online operators. Land-based sports betting establishments have to return 80% of the handle to those who placed wagers. Online operators have to do the same except for 89% of their bettors.
Whether or not these numbers hold true when regulations are finalized has yet to be seen. The licensing fees that the Ministry of Economy is proposing would also create a huge financial burden for potential sports betting venues in Brazil. The initial licensing fee would cost over $700,000 and would only last for nine years. As far as monthly fees go, land-based operators have to pay almost $5,000 and online sportsbook companies in Brazil would have to fork over $7,400. All of these costs, if implemented, may limit the number of sports betting operators in the country. But it would also mean that the government is getting all it can from implementing a whole new industry.
Brazil Sports Betting FAQs
What Are The Best Betting Sites In Brazil?
Due to the fact that there are no retail sportsbooks in Brazil just yet, all of the sports betting done in the country are done in online sportsbooks. Sports betting is fairly unregulated in Brazil, so any Brazil-based online sportsbooks are not recommended. Instead, Brazilian sports bettors should look at online offshore sportsbooks for all their sports betting needs. Our most recommended betting sites that you can use in Brazil are SportsBetting and BetOnline. These two online offshore sportsbooks have been in business for well over a decade and they have been taking bets from Brazilian gamblers for quite some time now. They are reliable and a great way to bet on all of your favorite sports.
Which Banking Methods Are Accepted At Brazilian Sportsbooks?
There are plenty of ways to bank with Brazilian sportsbooks. The easiest banking method is using either Visas or Mastercards. You can deposit anywhere between $10 to $30,000 with this method. Neteller is also available as well. With Neteller, you can deposit between $20 and $50,000. Skrill is also another option that allows you to deposit between $10 and $38,000. The virtual prepaid card called Entropay allows you to deposit between $20 and $30,000 to Brazilian sportsbooks. Bank Wire transfers deposits happen within 2 to 10 business days and you can deposit between $50 or up to $100,000. If you are a high roller, bank wires are the way to go.
What Does The Future Of Sports Betting Look Like In Brazil?
Although there have been legislative delays in the ongoing push for state-regulated sports betting, Brazil appears to be on track for a 2020 launch. As the world’s fifth-largest country by population and ninth-largest economy, Brazil could benefit greatly from mobile betting. Expect a variety of both retail and online sportsbooks to launch throughout Brazil by early 2021 at the latest.
Can I Bet On Non-Brazilian Teams Or Sports?
Absolutely. Online sportsbooks such as MyBookie and BetOnline will accept residents of Brazil but the betting lines they offer reach far outside the borders of the country. By using these sites you can find betting odds for soccer teams in Europe, the U.S., and other countries across the world. You will also find betting lines for sports such as futsal, auto-racing, handball, pool, and more.
How Old Do I Have To Be To Bet On Sports In Brazil?
Those who are looking to bet on sports in Brazil will have to be 18 years old or older. This is the age that online offshore sportsbooks require you to be, and because they are the only sportsbooks accessible to Brazilians, that is the restriction that you will have to follow. When official sports betting regulations come to Brazil that age may change. But for now, it is set in stone.
Can I Use Multiple Online Sportsbooks in Brazil?
Yes, and as a matter of fact, it is actually encouraged to have multiple online sportsbooks in Brazil. The reason being is that having more than one account allows you to shop lines. This means that if you see a game that you want to bet on, one site may offer a better payout or less vigorish than the other one. Naturally, you would choose that site so that you can either save some money or potentially earn more money.
How Do I Fund My Online Sportsbook In Brazil?
You can do this through a number of different ways, but it will mostly depend on which site you use and your personal preference. For example, BetOnline has different deposit methods such as credit or debit card, bank wire transfer, checks, person to person, or as stated before through cryptocurrencies. The easiest method to fund your online sportsbook will be through BitCoin. That’s because you can avoid any trouble you have with your bank and you will be able to make transactions quicker than any other method.
Can I Use My Phone To Bet On Sports In Brazil?
When it comes to mobile betting in Brazil, it is very much possible. Most smartphones and tablets are compatible with international sportsbooks and can offer full-service betting to sports bettors in Brazil. This turns everywhere in the state into a way to play to win big. Betting on your phone is one of the best ways to play as you do not have the need to travel to a land-based operation. You can wager anytime anywhere on the go. All the options you could find at a physical location can be found at an online sportsbooks on your mobile device as well. It is very major possible to use your phone to bet on sports in Brazil.
|Status:||Legalized But Awaiting Official Regulations|
|Online:||Unregulated, Online Offshore Sites Only|
|Popular Sports:||Soccer, Volleyball, Mixed Martial Arts|