Is crypto taxed in Brazil?

Brazil Crypto Gambling Sites

Brazil is a promised land for gambling, and for a good reason. The outdated regulation that runs from 1946 restricts brands from entering the market, which inevitably led to a surge for gray-gambling.

Crypto gambling sites in Brazil allow locals to enjoy their game with no extra taxes, under the radar, while maintaining safety and speed over their transactions. Keep reading and discover the top crypto-friendly sites, along with some extra information, so you can make the most of it.

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Top Crypto Betting Bonuses

Mediocre or non-existent Bonuses are what Brazilian players have to deal with due to the lack of brands in the area. For that reason, we have filtered the best betting Bonuses that can boost your initial deposit up to 300%, so you can capitalize on your registration. And if you are always on the lookout for new bonuses, our list is consistently up to date with new crypto gambling brands.

Casino

Rating

Min Deposit

Rollover

Bonus Code

BC.Game Bonus

4.3/5

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$30

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4.3/5

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10 USDT

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Coins.Game Bonus

4.2/5

Deposit Bonus

$10

N/A

NO CODE

180% Bonus Up To$20,000

Cryptoleo Bonus

4.2/5

x50

NO CODE

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Duelbits Bonus

4.2/5

Rakeback

$10

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4.2/5

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20 USDT

x40

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4.2/5

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Bookmaker

Rating

Min odds

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Rollover

Bonus Code

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4.3/5

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$30

Special Rules

Exclusive Offer

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120% Bonus Up To$20,000

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4.4/5

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2.00

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N/A

$10

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Cryptoleo Bonus

4.2/5

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€20

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4.2/5

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1.40/selection (Trebles)

€1

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4.4/5

Rakeback

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4.0/5

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Special Rules

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4.1/5

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4.2/5

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4.2/5

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1.40/selection

$20

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4.1/5

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1.4/selection

$20

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Casinos online in Brazil - What to know

Although the current law doesn’t mention anything about online gambling, making it technically unregulated, locals still choose international platforms as they are the only way out. In fact, the always-increasing billions spent each year on offshore gambling make Brazil one of the hottest areas for gray casinos and sportsbooks alike.

The good news is that the government is trying to pass a new bill and open up the market. The bad news is that they have proposed heavy taxation on winnings. The solution is simple. Along with the rapid expansion of cryptocurrencies in the land, players prefer crypto casinos online in Brazil as they can enjoy their game with instant transactions and low to no KYC, without getting blocked or tracked by banks and the authorities. Don’t just go for the first crypto casino you’ll find. Take a look at our curated picks with the top websites below before signing up.

Trending Brands in Brazil

No of Cryptogambling Sites

Top Site

Anonymous gambling sites

Most Secure

Provably fair casinos

Most Games

Fastest Payout

Stablecoin gambling sites

Most Networks

With some of the basics down, it’s time to take a closer look at what you can expect from a proper casino and sportsbook. There are endless crypto gambling sites to choose from, so knowing how to identify the one that aligns with your interests is essential.

Facts about Brazilian online casinos with crypto

If you prefer a native experience, try finding Brazilian online crypto casinos that offer Reais in their banking section and have their website fully translated into Portuguese.

Brazil is big on mobile usage. In case you use your phone for gambling, consider a platform with a mobile app or at least has a fully responsive website with an easy-to-follow layout.

The legal age for gambling in Brazil is 18 years old, something that is common in most countries.

Legit Crypto Casinos online in Brazil

Despite the fact that casinos are prohibited in the legislation, this doesn’t stop players from gambling overseas. Signing up for a crypto casino online in Brazil opens up a new world with thousands of Slots and hundreds of Live Tables & Game Shows. Even though many brands have a large catalog of games, not all include the big names. In our list below, you will find crypto casinos that feature Slots and Live Games from top providers like Pragmatic Play, Netent, Amatic and Evolution, so you know they are the real deal.

Casino

Rating

Crypto Coins

Highlights

BC.Game

4.3/5

Deposit Bonus

100+ Coins

Over 5,400 Games

60+ Providers

DeFi Tools

120% Bonus Up To$20,000

Vave

4.4/5

Cashback

Over 29 Coins

70+ Providers

Over 700 Bonus Buy Games

4+ Fiat To Crypto Gateways

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BetPanda

4.3/5

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Over 10 Coins

5,000+ Slots

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Separate Crypto Wallets

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Live games

Among all casino games, the one that most native gamblers seem to prefer is Roulette. Crypto casinos online in Brazil not only offer dozens of Live Tables for Roulette but also take the game a step further with the help of blockchain technology. In Provably Fair Roulette, a computer generates the results beforehand and allows you to check for their validity after the round, making sure no funny business is done from the side of the house. This is a feature that only the top crypto gambling sites have, so keep that in mind when looking for a legit platform.

Brazil betting sites that accept crypto

For a country with such a rich history of sporting success, allowing only horse race betting is unacceptable, to say the least. That’s why locals take their game on Bitcoin sports betting sites, where they can bet on their favourite national leagues with better odds and higher winning limits. For more detailed info, check our list of the top Brazil crypto betting sites where you can filter and find the one that suits your betting preferences and style best.

Bookmaker

Rating

Crypto Coins

Highlights

BC.Game

4.3/5

Deposit Bonus

100+ Coins

In-game DeFi Tools

Up To 200+ Live Markets Per Event

10+ Blockchain Networks

120% Bonus Up To$20,000

Vave

4.4/5

Cashback

Over 29 Coins

Up To 96%+ Odds

Over 1,000 Daily Live Events

4+ Fiat To Crypto Gateways

100% Bonus Up To1 BTC

BetPanda

4.3/5

Deposit Bonus

Over 12 Coins

Livestreaming

40,000+ Monthly Pre-game Events

Bitcoin Lightning Accepted

100% Bonus Up To1 BTC

Which Sports Can I Find

Football is synonymous with Brazil and is rightfully the sport preferred most for betting. In Brazilian crypto bookmakers, hundreds of markets can be found in Brasileiro Serie A and Copa Do Brasil, where you can also Livestream the games, among other features. Besides football, you can wager on dozens of markets on UFC and other MMA leagues.

Casino

BC.Game

4.3/5

YEAR EST

2020

100+ coins

Over 5,400 Games

60+ Providers

DeFi tools

Pragmatic Play

Play ’n GO

No Limit City

Exclusive Offer

120% Bonus Up To $20,000

How to deposit to a crypto casino online in Brazil

Armed with all the information needed, you have probably decided on one or more operators to sign up to. The next step is to deposit to a crypto casino online in Brazil. Since cryptocurrencies are used widely over the country, the process should be familiar. The crucial part here is selecting a crypto exchange. Binance, Coinbase and Crypto.com are our recommended exchanges as their strong presence in Latin America and solid reputation makes them a perfect place to get your cryptos.

In case you are doing this for the first time, don’t worry. The process is very simple. Once completed a few times, it should be faster and cheaper than other known methods like Astropay or Boleto. Just follow the easy step-by-step instructions we created down below and your deposit will be through in no time.

Step-By-Step Process

Start an account at a crypto exchange. Fund it via debit card, bank transfer or any other local option. Acquire the cryptocurrency that you are going to use as a gambling bankroll

If you are not in a hurry, limit orders hold fewer fees than market orders. Sometimes, it is better to acquire the proprietary coin of the exchange first, as trading pairs with them cost less

Transfer the cryptocurrency amount to your private wallet. Never make direct transactions between crypto exchanges & crypto gambling sites. Crypto exchanges may freeze such accounts

Head over to the gambling site’s cashier section. Click on the relevant crypto method. The wallet’s address will appear. Copy the address and paste it into your wallet’s send function. QR code scans are commonly available too.

If a brand does not support crypto-only wallets, watch out for the exchange rate. Any spread above 1% of the current market rate is too much

After a few seconds or minutes, your deposit will settle. This depends on the cryptocurrency and the number of block confirmations required by the operator

Now that we have cleared everything about crypto deposits and transactions, there only one piece is missing. What happens if you hit a big win? Are your winnings taxed? And if so, is there any way to avoid that? We will give you all the answers in the following section about taxes, so keep reading.

Sportsbook

BC.Game

4.3/5

YEAR EST

2020

100+ coins

In-game DeFi tools

Up to 200+ live markets per event

10+ Blockchain Networks

Bet Builder

Cash out Full

Live Streaming

Exclusive Offer

120% Bonus Up To $20,000

Cryptocurrency Tax & Gambling

It is good to mention of few basic pieces of info before we dive into crypto-specific details*. Under the current law, residents in Brazil are not obliged to pay any tax for their winnings from gambling on online casinos. With cryptocurrencies involved, the scenario slightly changes. The crypto regulation does not state anything about receiving winnings from gambling in crypto, which creates a nice window of opportunity. What is stated, though, is that monthly profits of R35,000 or higher are subject to Capital Gains Tax ranging from 15% to 22.5% and should be reported. Don’t let these numbers scare you. There is a way to get around this.

The first and most sound way to get around it is by not exchanging your cryptos for Reais or USD. Every time you exchange your crypto, Capital Gains Tax should be paid. Thus, keeping your profits in a private wallet will be enough for starters. Lastly, moving cryptocurrencies across different wallets is also tax-free, meaning that setting up different wallets to add an extra layer of security is definitely an option.

Anonymous crypto casino

Don’t think that just because you use cryptocurrencies, you are completely low-key. The Brazilian government can actually get the data from local exchanges and track all your crypto activity. Although this is quite an extreme scenario, there is the possibility of gambling entirely under the radar and keeping all your profits.

Cryptocurrencies such as Monero and Zcash are developed with the purpose of being completely untraceable. Combined with an anonymous crypto casino that requires no KYC, and multiple wallets to diversify your winnings, staying away from the prying eyes of the state and preserving your winnings is possible. On our page, you can find all the operators that accept Monero and Zcash.

What Is The Situation in Other Countries

Gambling with cryptocurrencies seems to be slipping from regulators around the world, not only in Brazil. The approach for it depends on each country’s combined legislation on online gambling and capital gains, which leads to various interpretations of the same topic. A crypto casino in Portugal, for example, is a better option than one in the USA, let’s say, solely because of the prosperous crypto regulation in Portugal. In any case, smart use of anonymous wallets lets you stay under the radar in all countries.

*Remember, this is meant to be a general overview of the current fiscal situation. Contact a tax professional for your financial inquiries, as errors may lead to significant losses & potential fines. We are not financial advisors

Final Verdict on Brazilian Crypto Casinos

While the current gambling legislation is fairly outdated and doesn’t affect gamblers, the sentiment is changing with the government trying to bring a new bill that targets players too. The tax for winnings over R10,000 is just one of the measures the government has proposed. Going for a Brazilian crypto casino, you will not only tap into lightning-fast, cheap transactions with no limits as well as a better casino and sports betting product. You will also get a head start on the regulators before the landscape changes once and for all. Check our list of the most legit crypto gambling sites and enjoy tax-free action under the radar.

FAQs

With the latest law passed in November of 2022, cryptocurrencies have become legal in Brazil and can be used for payments of all sorts.

The answer depends on the amount of risk that you can take on. If you don’t mind the volatility of the crypto market, then TRX, BNB, SOL and ADA are a few of the most solid coins with instant transactions and the lowest fees. If you want a normal online casino experience, stablecoins like USDT and USDC are the ones you are looking for, as they always keep their value steady at one dollar.

There are various Bitcoin wallets that can be used for gambling. We prefer Trust Wallet, Blue Wallet and Muun for hot wallets, since they are the simplest and safest to use. For a cold wallet, you can’t go wrong with Ledger or Trezor. Remember to always use a private wallet for gambling and never transact directly between the exchange and the casino, as it can get you banned.

Yes. Binance is the biggest crypto exchange to date and our recommendation for buying cryptocurrencies as they have a lower spread. It is open to users from Brazil; therefore, you can use it with no problem.

Betting with cryptocurrency is becoming increasingly popular and there are tons of websites that you can bet on. Choosing the right one for you can be hard, so check our in-depth review to find the best safe Brazilian bookmakers with cryptocurrencies.

Absolutely. Trust Wallet is a crypto wallet that is available worldwide. One thing that changes for Brazil is that you can utilize local FIAT to crypto gateways like Pix or Moonpay, in case you’d like to buy your crypto with conventional banking methods.

All crypto profits that surpass R35,000 a month are subject to capital gains tax. The percentage varies from 15% to 22.5%, depending on the amount.