Understanding the Similarities and Differences of the Products
In Brazil, lottery is associated with the cold act of buying the paper receipts emitted by the state-controlled monopoly of CAIXA, a bank owned by the Federal Government of the Republic of Brazil. It is a boring way of betting, as it consists in paying some 3 to 5 BRL and wait for the result.
Gambling in such a way, whether it is done via physical stores of Loterias da Caixa or via Internet Banking or the Online Lottery Store (which is a relatively new product focused on high-income citizens, as the minimum bet in the online store requires circa 3% of the minimum wage of 1000 BRL, i.e. 30 BRL in bets), is a rather cold and boring way of betting.
Brazilians seem kind of oblivious to the fact that outside Brazil there are several privately-owned lottery companies, and of course, the casinos seem to be a product from the past in Brazil as the in-land prohibition is now almost 70 years old.
Casinos and Lotteries
Casinos are essentially a much more amusing way of taking chances and going for the big win. Games like blackjack, baccarat allow the fans to take chances the way they find more amusing, and some slots could really make you an instant millionaire, like Mega-Moolah, a slot that has already paid in the past prizes in the house of 125 Million BRL (20 Million GBP), in exchange for small stakes in the house of a Mega Sena ticket!
The fans also have the opportunity of betting in the live casino product, which allows an immersive experience of betting which counts on real human dealers, a much cheaper and rather discrete way of enjoying a casino experience than a trip to Uruguay or Las Vegas.
The online environment of casino betting is the only legal way of betting in Brazil, and unlike dirty illegal casinos, it’s possible to earn some prizes in advance, i.e. bonuses to take chances, while real-life casino travelling sets you back in about 10k BRL even before you take in account your betting budget!
Understanding the Betting Products (Sports Betting, Casino and Live Casino)
Lotteries and casinos are products of the same nature, i.e. games that are based on fixed probabilities. Although it’s not possible to know for example the exact probabilities of winning at slots, you shouldn’t have to worry as the big developers used by our partners (casinos) are all honest and tested everyday by millions of casino bettors all over the world.
Sports betting is a product based on the compilation of information, i.e. your research could affect your chances of winning, in comparison with a slot it is of different nature, because if you spin the reels of a slot, it doesn’t even matter if you are aware of the volatility of the game: your chances of winning won’t change based on your awareness.
Poker is a product more similar to sports betting in the sense that your skills do affect your results, while lotteries, slots and roulette don’t work that way. Blackjack is closer to poker in that sense.
The product of virtual sports is comparable with sports betting in the sense that your skills of making estimations play a key role in terms of determining the results.