Brazil Betting Sites

Brazil Betting SitesBrazil’s culture and history have always been permeated by sports so the complex situation in regard to sports betting legalities in the country comes somewhat as a surprise. The world’s 5th largest country in terms of population (211 million as of 2018) is often referred to as the “sleeping giant” due to the immense unrealized potential it carries when it comes to gambling regulations. The country is the 8th biggest economy in the world, boasting a Gross Domestic Product (GDP) of $2.05 trillion as of 2017, with a projected economic growth of 2.5% by 2019.

It makes sense a country whose population is so passionate about sports, and soccer, in particular, would have enforced adequate regulations to allow for legal sports betting long ago but this has not been the case here, at least not until recently. Sports betting and most other forms of gambling were illegal in Brazil until December 2018, when President Michel Temer approved a bill that will finally bring regulated live and online sports betting to Brazil.

Despite the long absence of a regulated sports betting market, Brazilians have always been enthusiastic about betting on the outcomes of sporting events. There are no legal landbased or online sportsbooks in Brazil but the illegal sports betting market is thriving. Soccer remains a favorite to Brazilian punters but bets are also commonly placed on horse racing, basketball, tennis, volleyball, baseball, rugby, and mixed martial arts.

Although Brazil is still in the initial stages of regulating its sports betting market, betting on the internet is not something new to Brazilian punters. Many sports fans have taken their bets online where they face a wider variety of pre-match and in-play markets, available at very competitive odds. Many licensed offshore betting sites are happy to accept bets from punters in the country, catering to their needs with an extensive coverage of sporting competitions and leagues.

Legality and Regulation of Sports Betting in Brazil

Legality and RegulationCasino gambling and sports betting has been prohibited on Brazilian soil for more than half a century but this hardly prevented the country’s residents from making sports punts on the internet. Online sports betting is prevalent despite the efforts of the Brazilian legislators to prevent it.

The government first attempted to uproot illegal online gambling back in 2006 but failed. New attempts were made in 2008 and 2010 but again to no avail. In 2011, the Brazilian Senate concentrated its efforts on banning online sportsbooks but did not gain enough support.

There were also discussions on the introduction of measures that aimed to block Brazilian punters from accessing foreign betting sites but this idea also failed to come to fruition. The Senate attempted to pass a piece of legislation that introduced regulations on online sports betting but then-President Dilma Rousseff turned it down in 2015.

Until recently, horse race wagering was the only legal form of sports betting in Brazil but only when conducted on authorized landbased racecourses. Wagering outside a racecourse is still considered an illegal gambling activity and as such, is subject to penalties.

Fantasy sports are exempt from the online betting ban since they fall into the category of games of skill because the results are not based solely on luck – the outcomes are often influenced by the strategies players incorporate. Therefore, wagering on fantasy sports is considered neither gambling nor sports betting in Brazil where there is no governmental entity to issue licenses for the provision of such services.

A legislation reform that took place in 2015 enforced penalties for those caught taking part in online or landbased betting, with fines ranging between R$2,000 and R$200,000. But the good news is Brazil is no longer a gray-area market. Let’s take a closer look at some of the most essential laws that have helped shape Brazil’s current sports betting landscape.

Key Sports Betting Laws

The Sports Forecast LawBrazil outlawed gambling as early as 1941 under the provisions of the Criminal Contravention Act. This piece of legislation banned several types of gambling, namely games of chance whose outcome is based solely on luck, wagering on horse races outside authorized racecourses, and sports betting.

Under the provisions of the bill, those who conduct unlawful sports betting are penalized. Anyone who conducts such betting operations risks a penalty of three months to a year in jail. Several years after the passing of the bill came Decree Law No. 9215 which revoked the license of all casinos and completely eradicated casino gambling in the country.

Horse race betting did not fall under the scope of the Criminal Contravention Act. Currently, it is regulated under the provisions of Law 7291 which was enacted in 1984. Up until 2005, punters from Brazil were allowed to make pari-mutuel wagers only on races that took place on the two local racecourses, Rio de Janeiro’s Hipodromo da Gavea and Rio Grande do Sul’s Hipodromo do Cristal. A revision in the law (Normative Instruction No. 27) allowed for the introduction of pari-mutuel wagers on international races.

The Brazilian authorities struck a deal with Spain-based racetrack and gambling operator Codere which allowed Brazilian bettors to wager on a range of international horse races in Codere’s simulcasting parlors.

Wagering on horse races is supervised by the Comissão Coordenadora da Criação do Cavalo Nacional which collects a monthly fee from the organizers. The exact amount depends on the cumulative wagers collected during the month. Sums below R$2,500 are exempted from taxation. Cumulative wagers between R$2,501 and R$3,500 contribute with a tax rate of 0.5%. Bets between R$3,501 and R$4,000 are taxed at a rate of 1% while wagers exceeding R$4,001 are burdened with a 1.5% tax rate.

Until recently, Brazilian laws did not contain any provisions pertaining to the distribution and participation in online sports betting. Technically speaking, online betting is illegal under the Criminal Contravention Act of 1941 but the country’s authorities fail to exercise proper control over local punters who continue to actively wager on sports betting sites located and licensed in other jurisdictions.

The most recent developments in the country took a turn for the better. In November 2018, Brazil’s Chamber of Deputies gave the thumbs up to a new piece of legislation that is to allow Brazilian punters to legally wager on sporting competitions. The new bill was signed into law by President Michel Temer in December 2018.

The Ministry of Finance is expected to come up with regulatory frameworks that govern live and online sports betting with fixed-odds within the next two years. It is not yet clear whether the new law will open the Brazilian sports betting market to foreign competition. A 2016 proposal of President Temer to establish a state monopoly on sports betting suggests the opposite. We will have to wait and see as presently there are not many details on the new bill’s content.

What we presently know is that landbased betting facilities must return to Brazilian punters around 80% of their overall handle while those operating remotely, i.e. over the internet, are required to give back 89% of their handle.

Additionally, one of the provisions of the new law calls for government taxes of 6% and 8% on the handles of landbased and online sports betting operators, respectively. Under another provision, landbased sportsbooks will have to contribute 2.5% of their revenue to the National Public Security Fund whereas the figure drops to 1% for online betting operators.

The bottom line is Brazilian punters will have no other option but to continue wagering at unauthorized betting sites that are based outside the country until the government comes up with an adequate licensing and regulatory framework.

Brazil Sporting Events Coverage and Markets

Sporting Events Coverage and MarketsSports fans from Brazil have a choice from hundreds of overseas online sportsbooks that are happy to accept their punts despite the absence of clear-cut gambling regulations at the moment. Offshore betting operators cater to Brazilians’ needs by offering an enormous variety of markets on events from the European and South American soccer leagues.

There are all kinds of bets you can experiment with, but some of the most commonly preferred options include Match Betting, Both Teams to Score, Over/Under, Correct Score, Half Time, and Double Chance.

More experienced punters can try handicaps but exotic wagers like proposition bets and outrights are also accepted. Brazil-friendly sportsbooks allow for bets on both pre-match and live soccer, with some of the operators offering live-stream services that give you a chance to watch sporting events directly on your smartphone or desktop computer.

But let’s not forget Brazilians are avid horse racing fans as well. Their demands for horse race betting are met by offshore sportsbooks that tend to provide a comprehensive coverage of all major competitions that take place across the world. The sportsbooks normally feature in-depth statistics about the horses, their trainers, and previous results so you can use this to make better-informed decisions with your bets.

But the sports betting enthusiasm of punters from Brazil extends way beyond soccer and horse racing. Brazilians are very keen on sports like jiu-jitsu and vale tudo so a good Brazil-friendly sportsbook would normally offer a good coverage of MMA and UFC competitions.

Tennis and basketball are also quite popular among sports bettors from the country. Offshore sportsbooks present them with an array of events from the NBA, the Euro League, the Argentinian LNB, the ATP, the WTA, the Grand Slam, and the IFT, among many others.

There are currently no betting sites based in Brazil but some of the sportsbooks friendly to customers from the country accept payments in the local BRL currency and support Portuguese as a language option, making it easy for Brazilians to punt and manage their accounts.

Popular Odds Format in Brazil

Popular Odds FormatPunters from Brazil are accustomed to both the fractional and decimal expressions of odds, but the former is commonly preferred for bets made on horse racing. The fractional odds format is not that difficult to understand. The numerator of the fraction shows you the returns of a winning bet, whereas the denominator reflects the wager you must make to collect that profit. Therefore, if you place a bet at odds of 11/2, this means you must wager R$2 to win R$11. If the odds are in reverse, i.e. the numerator is smaller than the denominator, this means you must invest more money than the potential returns you can expect.

Thus, if you make a bet at odds of 2/11, you win only R$2 for your original stake of R$11. To calculate your potential profits from a winning bet, you must divide your original wager by the denominator and multiply it by the fraction’s numerator. Then you add the original stake to the result and are done. For instance, R$10 staked at odds of 11/2 will yield a profit of R$65 because [{R$10/2}* 11] +R$10 = R$65.

Brazilian punters who find working with fractions confusing have the option to change their default odds format to decimals which indeed are easier to work with. If we asked you which the better odds are, 7/2 or 9/5, you will have to think for a while before you figure it out. It is much easier to answer the question if the odds were expressed like 4.50 and 2.80, right?

Calculating your potential returns with winnings bets is simpler when the decimal odds are used because you only need to multiply your stake by the decimal number. So if you choose the bet with the 4.50 odds (7/2 in the fractional format), you can expect a return of R$45 for a winning bet of R$10 because R$10 * 4.50 = R$45.

Decimal odds of 2.0 are said to return even money. Respectively, anything less than 2.0 will yield returns that are smaller than your original wager. Note that bookies never offer you bets at prices smaller than 1.00 because such wagers do not return any profits whatsoever. Brazil-friendly sportsbooks largely support both decimal and fractional odds, so feel free to choose whichever format you are more comfortable with.

Payment Solutions for Sports Bettors from Brazil

Payment SolutionsIt makes sense that a punter from Brazil would prefer to initiate payments with locally available banking solutions. The good news is that some of the largest betting sites to welcome action from the country work with methods like Boleto Bancario which is exclusive to Brazil. To use it, a punter must hold an account with a supported Brazilian bank.

Another locally available option is AstroPay which is a virtual prepaid card, supported across Latin America and certain parts of Asia like India, China, and Thailand. Brazil’s government has made attempts to prohibit local banks from conducting payments to and from unauthorized betting sites but the efforts proved futile. Conventional payment solutions like wire transfers and checks are also among the alternatives.

Brazilian punters were able to use the popular e-wallets Skrill and Neteller but unfortunately, this is no longer the case. As of February 2018, the two companies decline to process payments to online betting sites if the transactions are initiated by Brazilian residents.

Whichever available method you choose, we suggest you always use your local BRL currency, if it is supported by the operator you have registered with. This will help you avoid additional charges for currency conversion.

Bonuses and Rewards for Brazilian Sports Bettors

Bonuses and RewardsBrazil-friendly sportsbooks are in the habit of enticing customers with a variety of great promotional incentives that add extra value to the bets they place. Brazilian punters can start their betting experience by claiming a welcome bonus, which may come in the form of a deposit match on their first payment.

In some instances, newcomers are treated to free bets, which is to say they are granted a predetermined amount to wager for free with. Such offers always come with wagering requirements and minimum odds conditions but these vary vastly between Brazil-friendly betting sites.

The free bet also has expiration time and is removed from inactive accounts after a given period so be sure to use yours before it is forfeited by the bookmaker. In many cases, the free bets are not cashable which is to say punters can use them solely for the purpose of free wagering and withdraw only the winnings they have accrued with the bonus.

Brazilians who already have opened accounts with an online sportsbook are not left with empty hands, either. Online bookmakers run various ongoing promotions existing customers can take advantage of. Free bets are often available to returning customers when a major championship is underway.

Cashbacks and accumulator insurances are also a common option. The punter is compensated with a free bet when their accumulator loses because one of the selections fails. Sometimes the punter receives the compensation as a predetermined percentage of their overall losing wager.

Customer Support at Brazil Sports Betting Sites

Customer SupportOne way to tell a good Brazil-friendly sportsbook from a bad one is to judge by the quality of the support services customers are provided with. An esteemed betting operator would go out of its way to meet its customers’ needs and would service them at all times including over the weekends and during public holidays.

The more contact methods there are in the sportsbook, the better. Good sportsbooks normally offer live chat facilities that are staffed at all times to ensure customers are always assisted with their issues or queries.

That being said, it would be best to sign up with an operator that provides customer support in the Portuguese language, especially if you are not fluent enough in English. Other common avenues of contact Brazilian punters can resort include email and telephone. However, not all betting operators offer toll-free support lines for international customers so keep that in mind.