Brazil

In-person and online sports betting have been fully legal in Brazil since the 2018 legislation update. After the country started regulating its gambling market, the landscape is much more transparent regarding what you can wager on and where to place sports bets. In a nutshell, there aren't really any betting markets that are prohibited, and after the most recent gambling law change, most forms of fixed-odds betting, including horse race wagering, are available for Brazilian sports fans aged 18 or over.

Fantasy sports are also legal in Brazil but remain unregulated despite the latest law update, meaning Fantasy sports providers do not require licenses to operate in the Brazilian market.

However, all gambling operators wanting to offer Brazilians real-money betting services must obtain a license from the country's finance ministry. Each license runs for five years, costs the operator BRL 30 million ($6.1M), and includes operational permits for up to three brands. In addition, according to the latest gambling bill, all licensed operators would be subjected to a 12% tax rate, while player winnings would be taxed at 15%.

Sports betting & gambling news and updates from Brazil

• August 21, 2024: After the final day for gambling license submissions records more than 50 applications, 113 operators apply for a Brazilian gambling license to operate in the country once the regulated market opens up.

• August 16, 2024: Global gambling giant MGM Resorts International announces a partnership with Latin America's largest media group, Grupo Globo. This joint venture aims to enter Brazil's betting market, and the new group confirms that its license is currently under approval.

• August 8, 2024: Nuvei has announced an agreement to acquire Brazilian payment institution Pay2All, strengthening its presence in Brazil and the LATAM region. This acquisition will allow Nuvei to provide comprehensive payment services, including e-wallets and PIX transactions, in Brazil's regulated online gaming market. The deal is pending regulatory approval. CEO Philip Fayer emphasized this move as key to Nuvei’s global expansion and commitment to localized payment solutions.

• August 5, 2024: The Brazilian government issues a new regulatory framework to establish strict rules and provisions regarding the advertisement of upcoming legal fixed-odds betting products and services, focusing especially on the use of social media influencers. Under this updated law, if a betting company advertises via any influencer, the company itself is fully responsible for any misleading information this influence might provide to the public, accompanied by severe penalties for any advertising-related violations.

• August 1, 2024: Brazil decides to fully allow most forms of online casino games, such as online slots, blackjack, roulette, and poker, as well as crash games, under the newly published Normative Ordinance No 1,207. All online games must carry at least an RTP of 85%, and each game must showcase the minimum and maximum multiplier prize values.

After a back-and-forth battle, iGaming was also added to Brazil's latest gambling bill, which President Lula approved. This move means that online casinos fit in the same regulatory framework as sports betting operators, and therefore, such activities are now fully legal in the country as well.

Despite the new legislation, land-based casino gaming is still prohibited, so such establishments cannot be found within the country. However, the story is different regarding poker, as in-person and online poker are legal in Brazil since poker is considered a game of skill rather than a game of chance.

Social casinos are also legal in Brazil but are currently unregulated. Regarding lotteries, only the ones under the state monopoly are legal.