Can I Bet Online Safely?
The answer is yes. The exact legal status of online gambling in Brazil is a bit more complicated than that, but in practical terms, the sports betting punters and casino gamblers just don’t need to worry, the existing legislation and the upcoming one aren’t a problem in that sense.
Legal Status of Online Gambling in Brazil
The current situation of Brazil is what the industry calls a ‘grey market’. It isn’t a black market because online betting isn’t forbidden, but it also isn’t a ‘white market’ because there’s no clear legislation regulating online sports betting and casino activities.
The result of not being white or black is what is called ‘grey’ legislation.
The exact details of the past and upcoming legislation don’t matter much to the gamblers, the most important information is that it’s not a crime.
The current legislation ‘sees’ online gambling just like betting abroad, in-land, i.e. like when you are travelling, and you get to visit for example a betting shop in London, or a casino in cities like Punta del Este or Las Vegas.
In theory, the taxation that would apply to such potential profits would be the ‘capital gains’ taxation, which is of 15% in those cases.
One of the key points that is expected to come with the new regulation of online gambling in Brazil is potential changes or at least a clear confirmation of the kind of taxation expected to be imposed over the profits of gambling customers.
There are literally hundreds of websites doing business ‘within the Brazilian internet’ these days. While we do understand that some bonus offers of other operators focused on other countries could be far more seductive than those available to Brazilian customers, it is imperative to bet at sites that want to take your bets.
In practice, that means to simply avoid betting using VPN, if the site doesn’t want to take bets from customers in Brazil, they may have serious reasons to do that such as a gaming license restriction.
There are numerous bitcoin casinos and sports betting platforms out there these days. While we do understand the seductive idea of earning betting profits in a very discrete and private way, as well as the fact that bitcoin often goes up in price and people like to keep reserves in cryptocurrency, there’s no major brand that is exclusively focused on such betting markets these days. For that reason, if you want to bet using XBT, we suggest focusing on major sites that use XBT simply as another kind of currency.
If you take in consideration the point of view of a retail bookmaker or casino customer, you don’t have to worry about online gambling, you are simply not doing something illegal.
The exact meaning of what a grey market is and what is the reason behind the Brazilian grey status these days, please check our specific article about Grey Betting Markets.