Brazil’s economy has been booming lately and this, led to more and more people wanting to spend a part of their income on gambling by using their currency – the Brazilian Real. The Brazilian football league is always a favorite destination for Brazilian punters because football is considered to be a religion in the country. Thanks to this page you will learn how to deposit money in Brazilian Real at betting sites, which methods can you use to do that, and should you pay gambling tax on your winnings.
Where can you bet using Brazilian currency?
|Bookmaker||Founded||Jurisdiction||Bonus||Min. Bet||Max. Bet||Grade||Review|
|1999||United Kingdom||£30||£2||No max||
Brazilian gamblers will find that only one bookmaker accepts BRL as a betting currency, and that is bet365. That doesn’t allow much freedom to choose from, but bet365 is a top quality bookmaker, and we rate them very highly in our bookmaker reviews section.
Bet365 – Unfortunately for Brazilian citizens, this is the only website which accepts their currency, and they don’t have so many deposit options, but they should be enough. You can use Entropay, Click2Pay, wire transfer, and credit or debit card. Bet365 customers can also withdraw with the same options mentioned above, but the limits and processing times are individual for each one. Gamble via deposit at Bet365!
Gambling Tax in Brazil
The gambling industry in Brazil isn’t regulated which is fairly surprising for a democratic country in South America. That means that you don’t have to pay any tax on your winnings, even though the government could win lots of cash just by implementing a small tax percentage. The fact that there isn’t a gambling tax at the moment means that you should be more aware of any changes in the law if the government starts regulating the gambling industry in the country. For the moment, you get to keep everything you win.
What payment methods should people who want to deposit in Brazilian Real use?
With bet365, it’s very easy to use different payment methods to deposit using Brazilian currency. Most people think this is a boring and standard practice, but the credit/debit card remains the best way to deposit money to a gambling website. You don’t have to wait like you do when using an eWallet or a wireless transfer, and it doesn’t matter if you deposit or withdraw money. Some people don’t want to give their credit card details directly to the bookmaker, so we would suggest using a transaction service like Click2Pay, although bet365 are always a safe choice.