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The role of crypto bookmakers in Brazil
Shortly
From 2024-2025, Brazil has formalized rules for fixed-odds rates: Payments in the licensed segment must only go through institutions authorized by the Central Bank (BCB) - PIX, TED, debit/prepaid cards. Cryptocurrency payments are prohibited for licensed operators. This cuts off the "white" market from crypto payments, but does not remove demand: part of the audience continues to use offshore crypto bookmakers due to anonymity and bonuses, taking on high risks of blocking and lack of protection.
Legal status in 2025
Base frame: Law No. 14. 790/2023 and subsequent orders of the Ministry of Finance detailed authorization and compliance for the fixed coefficient market.
Payments: under Regulatory Order No. 615/2024 and related acts, the acceptance of cryptocurrencies by licensed operators is prohibited. Only electronic transfers through accounts with BCB authorized institutions (PIX/TED/debit/prepaid cards) are allowed. Credit cards, cash, crypto and "unauthorized intermediaries" are prohibited.
Segregation of funds and payment terms: separate accounting of funds of players and the operator is required; prizes have strict payment deadlines (up to 120 minutes after the event for authorized platforms).
Fight against illegal immigrants: the Ministry of Finance/regulator introduced an authorization schedule and measures to suspend/block companies that have not submitted applications; authorities block "irregular" sites.
Conclusion: there are no crypto payments in the "white" segment; crypto bookmakers are essentially an offshore/gray channel outside the permitted payment loop.
Why the demand for crypto bookmakers has not disappeared
1. Privacy and (seeming) anonymity: some players do not want to leave traces in the banking system.
2. Fast deposits/withdrawals due to on-chain (especially in USDT/USDC offshore).
3. Bonuses/rackback: offshore companies subsidize aggressive promos.
4. Regional habit of digital payments: PIX has accustomed the audience to instant transfers - crypto is perceived as "even faster," although it is prohibited in the "white" sector.
Risks for players when using crypto bookmakers
There is no regulatory protection for Brazil: disputes, non-payment, scam - almost without legal leverage. In the "white" sector, there are norms for KYC/AML, liquidity reserves and SLA for payments - this is not necessary for offshore companies.
Blocking domains and transactions: government agencies have stepped up blocking of irregular sites. Funds on smart contracts/wallets will not be returned if the operator disappears.
Tax and legal risks: the use of prohibited payment methods for operators working with a Brazilian audience without authorization can be interpreted as participation in irregular activities (for operators - for sure, for players - the risk is secondary, but grows with increased control over payment routes).
Market impact of crypto payment ban
Payment re-instrumentalization: licensed brands transfer all cash registers to PIX/TED/debit/prepaid cards through BCB-approved providers; crypto as method - out of brackets.
Reducing anti-fraud and chargeback risk: abandoning credit cards and crypto is a deliberate step by the regulator towards traceability and taxation of GGR.
The flow of "crypto-users": part goes to offshore; some remain in the "white" segment, since the PIX already covers the need for instant payments (often faster than 2 minutes).
How white operators compete with crypto bookmakers
1. Speed and predictability of payments (keep SLA ~ minutes, use PIX/TED with auto-orcs).
2. Transparent limits and fees: no hidden fee for cashout is key to retention.
3. Responsible play and self-control tools: limits, timeouts, clear verification of CPF and age are both a requirement and a competitive advantage against offshore companies.
4. Local promos instead of "crypto bonuses": cashback/freebies within the framework of advertising allowed by the Ministry of Finance.
5. Safety communication: emphasize that player funds are segregated and protected by regulation.
Future: crypto vs. Drex (CBDC) and possible scenarios
Brazil promotes Drex Digital Real Project (CBDC): 2024-2025 pilots face technology and privacy challenges; a revision of the technical design is being discussed. Even with further progress, Drex is a regulated digital form of real, not a "crypt" in the sense of offshore tokens. Therefore, even with the launch of Drex, "white" operators will maintain a course for traced, authorized payments, and not for crypto assets.
Possible trajectories 2025-2026
Status quo: prohibition of crypto payments in the licensed segment remains; offshore companies remain a niche for part of the audience, blocking is growing.
Integration with Drex/banking APIs: the growth of "instant" fiat payments (PIX/Drex) reduces the motivation to go crypto for speed.
Tightening AML/KYC: further pressure on unauthorized operators and payment gateways.
Best Practices (for players and businesses)
Players: select authorized operators with PIX/TED and transparent payout policies; crypto bookmakers are attracted by bonuses, but carry a high risk of non-payment and lack of legal protection.
Operators: invest in UX fast payments through BCB-approved channels, automate KYC/CPF check, convey the value of regulatory guarantees and segregation of funds.
Bottom line: In 2025, crypto bookmakers in Brazil are outside the legal payment perimeter. The role of crypt is actually narrowed to an offshore "alternative" channel, while the official market is built around PIX/TED and strict KYC/AML. The launch of Drex in the future will only strengthen the trend for fully traceable payments in the licensed segment, and will not legalize crypto payments from "white" operators.