Looking for the best Brazil betting sites online? As one of the biggest sports-loving nations on Earth, the country has also developed one of the largest global appreciations for online gambling. Recent changes to legislation have also opened the door further to this thriving market. To find out more, check out our detailed guide below!
Top 10 Betting Sites in Brazil
Online Betting in Brazil Explained
Online betting is thriving in Brazil, one of the largest countries in the world. In fact, it is estimated that Brazilian bettors make up around 7.1% of the global market online.
38% of Brazilians take part in some form of sports betting, and of those, a whopping 81% bet on football. Of course, football isn’t just a sport in Brazil; it’s an integral part of the national identity, characterised by a highly competitive domestic league and a world-class national team.
To cater to this demand and popularity, Brazil betting sites regularly roll out football-specific promotions for keen sports punters. This trend doesn’t seem to be slowing down, either, with sports betting revenue in the country increasing by 11.5% per year.
Football Landscape in Brazil
Football is practically a religion in Brazil, with the national team having been instrumental in making the beautiful game truly iconic, with the likes of Joga Bonito and Ginga helping to secure five FIFA World Cups and nine Copa Americas.
On top of that, the renowned Campeonato Brasileiro Série A features the famous ‘Big 12’. This means that in any given season, between 10 to 12 teams have a legitimate shot at clinching the league title.Brazilian clubs have also been competitive on the international stage, winning a total of 23 Copa Libertadores finals between 1960 and 2023. There was also an impressive streak where a Brazilian club triumphed in every Copa from 2019 to 2023. Furthermore, at the Club World Cup, Brazilian clubs stand out as the only non-European teams to have won the tournament, achieving this feat on four occasions.
Is Online Betting Legal in Brazil?
As of 2018, yes. The appetite for betting experienced a continued growth until legal Brazil betting sites became an inevitability. To that end, in December 2018, Brazil’s former president Michel Temer approved the PM 846/2018 bill, which was also backed by the Brazilian Chamber of Deputies, as well as the Senate.
The bill’s passing meant that punters could use any international online sports betting sites that accept Brazilians. Officials have been fine-tuning the regulatory framework for several years now, amidst ongoing debates on how many bookmakers should be allowed to operate in the country.
On the 21st of December 2023, Bill PL3626/23 was ratified, which has launched a Federal Sports Betting Marketplace to regulate the industry. The new law states that punters must pay 15% federal tax on any winnings above R$2,112, while betting sites operating in Brazil are obliged to contribute 12% of their earnings.
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