When ranking the best online casinos in Brazil, we consider four factors above all others: reputation, game selection, payout rates and how quickly winners are paid. Our gaming laws are lenient enough that we can be as picky as we want; many casino sites compete for our business. There is no need to settle for anything less than an online casino that excels in all four categories.
To begin, here are three such sites that we recommend for our readers:
Going beyond security, game selection, payout rates and payout speeds, we also take into account the overall quality of the software and the types of deposit methods that are available specifically for Brazilians.
Our gaming laws are such that no gambling websites may operate on Brazilian territory. This leaves us with large, international websites to choose from. Among the major gambling websites of the world, only some actually focus on the Brazilian market and provide us with local payment methods such as Itaú, Bradesco, and Banco do Brasil in addition to international methods such as credit cards and e-wallets.
The State of Online Gambling in Brazil
Brazil has all the trappings to become a major gambling market on the international stage. The large, pro-gambling and internet-savvy population could prove extremely lucrative for operators.
Some gambling sites are already chomping at the bit. Back in February of 2016, one online gambling site partnered with Campeonato Brasileiro Serie A football club Corinthians in a deal reported to be worth $5 million. That deal was later terminated due to delays in implementing gambling laws in Brazil, but it goes to show that international online casinos have their eye on the Brazilian market.
Brazilians are already estimated to spend upwards of BRL 20 billion per year via illegal gambling. Others estimate that Brazilians place $800 million worth of bets online every year. The demand is there; it is now a matter of getting the right legislation enacted so the government can earn a piece of that market via taxes and licensing fees.
This is all despite a near-complete ban of all gambling in Brazil. Laws dating to the 1940s prohibit the operation of gambling games, but those laws are not applied to individual players who visit offshore casino websites. Currently, overseas online casinos are just as easy to access from inside Brazil as if the whole industry was already legal.
A New Bill to Regulate Online Casinos in Brazil
Brazilian politicians have recognized the need for updated gambling laws and are taking action to do exactly that. Politicians are coming around also to the fact that money needs to be raised somehow. Brazil was one of the most anticipated growing economies in the world until the current recession hit. All of a sudden, legalizing and taxing online casinos is starting to look like a better idea.
There are currently two competing proposals that take different approaches to regulate Brazilian casino sites.
The first and most favourable of these two proposals is SB 186/2014. This piece of legislation would regular brick-and-mortar gambling along with online casinos. Early versions of the law are vague, but the basic idea is that companies “accredited and incorporated” in Brazil are the only entities that may apply for online gambling licenses. The bill also calls for a 20% tax on the gross revenue of approved operators.
In August of 2016, a special committee released a report on SB 186/2014 in an effort to clarify the language of the bill and begin the process of finalizing the details. As CalvinAyre.com reported that month, there is a debate as to whether the Brazilian gambling market should auction off approvals for casino sites or if the Caixa Federal Bank (which runs the state instant scratch lottery) should be given a monopoly over all online gambling.
One of the more contentious proposals contained in the August report is a call for a 30% withholding tax on players’ betting and gambling winnings. The potential issue with that particular idea is that it would likely push a significant portion of Brazilian gamblers to play at unlicensed offshore casino sites in order to avoid the tax.
Back in July, it was reported that Brazil’s interim president Michel Temer has expressed an interest in setting up a state-run monopoly provider for sports betting only. In his view, the state could partner with an experienced international firm and run all gambling through the state.
This second proposal would be the least favourable of the two due to its limited nature. The Brazilian president seems only have an eye for sports betting. However, even if the law does extend to online casino, it would leave us with just one, government-run choice. The lack of competition would most likely lead to an inferior product. In an open market, Brazilian casino sites would be forced to compete with one another to deliver players a superior experience.
Based on our research, SB 186/2014 seems like the proposal most likely to be implemented. Progress has been slow, but any progress is good and we’ll take it. The demand for gambling is there, the economy could use a new tax base and politicians are at least discussing the idea. We will likely see a legalization of online casinos in Brazil eventually. It’s just a matter of time.