BETTING SECTOR HAS POTENTIAL AND ATTRACTS PROFESSIONALS AND AMATEURS IN BRAZIL
A study by the Getúlio Vargas Foundation (FGV) revealed that the sports betting market moves around US$ 530 million annually in Brazil alone. And, incredible as it may seem, the figure is small: sports betting is still relatively unknown to Brazilians. In keeping with the popularity of sports, online football betting is among the most sought after. In addition to the gains, the practice is a great entertainment option, according to the report.
Differences in the laws of the two countries may be one reason for the discrepancy. While the US Supreme Court understands that the Legislative Assemblies of each state can regulate the activity in its territory, Brazilian federal legislation is quite restrictive. Over there, only Las Vegas bookmakers make US$ 1.35 billion. Even so, Brazilian gamblers have a way to continue in the game, for hobby or profit: betting sites.
How online sports betting works
It is possible to place bets on also any sport: from MMA to table tennis, to football, basketball and volleyball. In all of them, the most traditional bet is to predict a result, be it a loss, a win or a draw.
In Brazil, the legislation only recognizes gaming managed by the Caixa Econômica Federal, among them the Mega Sena which, from time to time, makes new millionaires, and bets on horse races in the local jockeys. However, the understanding of criminal lawyers is that there is no infraction if the bet is made on a site outside Brazil.
So, is necessary just to choose a website where the bet will be placed so as not to break the law. In them, it is usually possible to bet by making deposits with credit card, bank wire and virtual wallet, such as PayPal.
Why sports betting attracts so many people
Much in the economic situation of Brazil that requires juggling to reduce expenses, there are those who see sports betting a full-time professional opportunity or a chance to make an extra income. More focused, professional gamblers spend hours studying the performance of teams and athletes, developing strategies to ensure higher winnings. There is also a third sector: those that enjoy sports betting only as an entertainment option and hobby.
Human biology explains why this attraction to gambling and betting. The root is in risk, which is inherent to any investment in this segment. Human organism is prepared to react to it, whether large or small. When we are in a risky situation, the body releases adrenaline, the blood circulates more quickly and the pituitary gland releases endorphin, which gives us the sensation of pleasure. That is what lies behind the appreciation that some people have for extreme sports, for example.
Online football betting: an area with great potential
Many people still refer to Brazil as the country of football, even after the failure in the last edition of the World Cup, when it was disqualified by Belgium. Despite that situation, mentioning the country in a conversation brings to the fore memories of emblematic teams and magnificent goals in world and domestic championships.
It is no surprise to know that online football betting is among the most sought after on specialized websites. However, the national legislation restricting the practice ends up driving some bettors away – even with the presence of sites based in other countries.
However, a bill to regulate both casinos and sports betting should be voted this year. Therefore, the moment is favorable for both professional and bettors who have fun: anyone who already has experience comes out ahead when the practice is legalized.
Care to be taken with online bets on football
Exactly because of the enchantment it causes, care must be taken to ensure that the hobby does not turn into a headache.
First of all, it is importante to find a reliable website, which has to be hosted outside Brazil, so that the bettor does not fall into criminal contravention. It’s easy to make sure: just check the information at the bottom of the page.
In addition to being hosted in another country, the site needs to be honest. Prefer those who have been around for some time, and talk to people who already bet. They will be able to tell which ones are reliable and which ones are riskier.
Likewise, it is important to state the earnings to the IRS on the Income Tax form. This is the guarantee that the money is perfectly legal and that it will not cause any legal problems.