Let’s dive in to our in-depth guide to the best sports betting sites in Brazil, 2024 edition. If you are looking for the most reliable sportsbooks in Brazil, look no further.
We ran an in depth analysis on sports betting sites in Brazil. We also dive into the legal landscape and the future of online betting in Brazil.
Brazil Sports Betting History and Laws
Whether or not sports betting is legal is not the question- those who want to gamble will always find a way. In the 40’s, Brazil’s government imposed a hard ban on all forms of gambling. Since the 90’s, Brazilian members of the government have been pushing gambling legislation with no luck. As a result, Brazil citizens turned to under-the-table sources of wagering.
Recently, the Brazil government has begun to see the value in the legalization of gambling. In Brazil, sports betting and gambling of most sorts was widely regarded as illegal until 2018. As time went on, Brazil began to move toward legalization of gambling, though it has been a slow, gradual process.
In December of 2018, this soccer-loving country signed legislation into law, allowing for legalized fixed-odds sports betting. This was a huge step forward for Brazilians, and the changes continued to flow rapidly.
In 2019, Brazil made another big legislative move by legalizing some forms of online gambling, including sports betting and casinos. By doing so, citizens of Brazil gained a wider selection of online gambling platforms to choose from.
In 2023, the government of Brazil further imposed laws in place to regulate the previously legalized fixed-odds sport betting.
By legalizing gambling, Brazil can benefit economically and can help regulate the betting industry, providing a safe and fun experience for bettors all over the country. today, sports bettors in Brazil have plenty of fantastic online sports betting sites to choose from.
Interesting note, Brazil has yet to enact any legislation surrounding fantasy betting, such as fantasy football leagues.
Brazilian Sportsbooks Taxes
As Brazil began to pass laws legalizing and regulating gambling, they were sure to include taxation in these laws. At the end of 2023, legislation was passed issuing taxes on both sportsbooks and players.
While the regulation of sports betting is still in the works, the President of Brazil approved a 12% tax on bookmakers operating non-sport online games, such as casinos, poker, etc. Players of such games will be taxed at 15% of all net gains. If you’re not good at gambling, this should be no issue for you.
Land-Based Sports Betting in Brazil
Brazil has become home to several land-based casinos in recent years. As they began to legalize online gambling, the Brazilian government allowed licensing to be provided to several operators in the different jurisdictions of Brazil.
In addition, several race tracks have become well established, most notably the Jockey Club in Rio de Janeiro. Bettors gather here to place friendly wagers on their favored horses. We’re impressed to see how much in-person gambling is growing in Brazil, and are fascinated by how far it’s come in a few short years.
Offshore Sports Betting Revenue in Brazil
Some sources have estimated that as many as 1,000 offshore gambling operators are operating within Brazil. It is possible that as much as 40% of Brazil’s population over the age of 15 use online betting sites regularly. In 2023, online gambling revenue in Brazil reached over 11 billion US dollars total.
The online gambling market in Brazil is projected to reach nearly $3.7 billion dollars within 3 years of the December 2023 legislation being passed. Within 5 years of that date, the Brazil online gambling market is estimated to reach around $5 billion in annual revenue.
What Are the Options Right Now?
Gambling operators are flooding into Brazil, ready to welcome bettors of all sorts with open arms. Whether you’re sports betting, playing casino games, or betting on race horses, there are plenty of options available for you to do so on.
Our sports writers recommend BetOnline. One of the top sportsbook operators in Brazil, BetOnline has a fantastic live betting feature, plenty of game lines and player props, a full-service casino, and fantastic customer service.
What to Look For to Stay Safe When Picking an Offshore Sports Betting Site
There are a couple of factors to keep your eye out for when selecting a reputable offshore sportsbook. Many Brazilian sports bettors have had issues with shady sportsbooks not paying them out. In order to choose a trustworthy sports betting site, we recommend looking into these factors.
⭐️ Holds a valid gambling license: Sports betting sites that are operating legally will have obtained a valid gambling license. When licensed, these betting sites will undergo regular audits from the Gambling Commission that licensed them. These audits ensure that these betting sites are operating honestly and following the guidelines set by the Gaming Commission.
⭐️ Time in business: The longer a sports betting site has been in business, the easier it is to know that they are a trustworthy site. Sports betting sites that use shady practices like not paying out winning bets will go out of business quickly, as word gets around that it is not a good platform. Good and honest sports betting sites will be in business for multiple years, since people will continue using their platform if they are honest and will probably recommend the platform to friends.
⭐️ Reviews: Many blogs like our and online forums will share reviews and real peoples experiences using a given sports betting site. We’ve got several online sportsbook reviews that give the full scoop. Every sports betting site is bound to have people who have had a negative experience, but look at the big picture. Are more people sharing their negative experiences, or positive ones?
Are Offshore Sportsbooks Safe?
To be blunt, yes. Offshore sportsbooks are generally safe. Of course, we recommend looking into the criteria listed above when selecting an offshore sports betting site. Websites that do not fulfill the points listed above may be safe, but we cannot speak to their integrity.
Here at Game Plan Bets, we like to dive deep into research on sports betting sites. We take the time to use them as well, in order to master our understanding of the sportsbook. This way, we can be sure that we are only recommending the best online sports betting sites to our readers. For this reason, we would suggest trying out one of our top ranked Brazil sports betting sites listed at the top of this post.
Brazil Online Gambling Legalization Framework
Brazil has made immense progress toward the legalization and regulation of gambling over the past 5 years. For decades, Brazil’s government struggled to pass gambling legislation, as their citizens turned to offshore bookmakers and under the table gambling.
While the government could see the danger of unregulated bookmakers and lack of support for gambling addictions, it took them until 2018 to kick into action. Brazil’s choice to regulate gambling provided resources for struggling gamblers, regulation of operators within the country, and revenue to boost the economy.
Brazil continues to implement new programs and guidelines for gambling operators, in order to protect the wellbeing of their citizens.
The Future of Brazil Sports Betting Sites
Brazil will continue in coming months and years to support and protect the wellbeing of their citizens, while paving the way for safe, fun gambling.
We’re loving the progress Brazil is making toward an open-gambling market. Gamblers and sports bettors around the country will benefit from Brazil’s online sports betting sites from years to come.
Disclaimer: The information provided on this site is for entertainment purposes only. Gambling comes with risk, and Game Plan Bets is not responsible for outcomes when betting with the sites listed in this article.
Be sure to check local laws in your state before gambling online.
If you have a gambling problem, do not hesitate to call 1-800-GAMBLER or visit one of the following sites for support: