The 2026 Guide to Lei das Bets, SPA Licensing & Offshore Casinos
Published: April 2026
| ⚡ Quick AnswerCrypto is banned at all SPA-licensed Brazilian operators under Article 3 of SPA/MF Ordinance No. 615/2024.If you want to use crypto, you are using an offshore casino that operates outside Brazilian law.Individual players are not specifically prosecuted — but tax obligations and growing enforcement risks are real.There is no middle path under the current framework. Licensed = no crypto. Crypto = offshore. |
Brazil now has one of the most rigorously regulated online gambling markets in the world. Since January 1, 2025, the federal framework under Law No. 14.790/2023 — the Lei das Bets — has required every operator serving Brazilian players to hold a federal licence from the Secretaria de Prêmios e Apostas (SPA/MF), use the .bet.br domain, and accept only Pix and other approved payment methods.
You cannot use a licensed Brazilian casino and crypto at the same time. The law treats them as incompatible by design — not by accident.
This guide explains exactly how this works, what it means for Brazilian players in 2026, where offshore crypto casinos fit into the picture, and the legal risks involved at every step.
Licensed Brazilian Casinos vs Offshore Crypto Casinos: At a Glance
| Factor | Licensed (SPA) | Offshore Crypto |
| Currency | Brazilian Real (BRL) only | BTC, USDT, ETH, and other crypto |
| Domain | .bet.br only | Various international domains |
| Payment Methods | Pix, TED, debit cards (CPF-matched) | Cryptocurrency only |
| Legal Status | Fully authorised — Law 14.790/2023 | Unlicensed in Brazil (operator illegal) |
| Player Legal Status | Fully legal | Legal grey zone — no prosecution history |
| KYC | Mandatory CPF + biometric | Varies — from full KYC to anonymous |
| Tax Handling | 15% IR withheld above BRL 2,824 | Player responsible for all reporting |
| Consumer Protection | SPA dispute resolution + Brazilian courts | Offshore licence authority only |
| Game Library | SPA-approved games | 5,000–11,000+ games typical |
| Withdrawal Speed | Up to 120 minutes (per regulation) | Minutes via blockchain |
| Bonus Rules | Strict SPA limits on promotions | Unlimited — reload bonuses common |
Brazil’s Online Gambling Laws Explained: Lei das Bets 2025
Brazil’s path to a regulated online gambling market took nearly a decade. Understanding the milestones explains why the current crypto prohibition exists.
Key legal milestones
- Decree-Law No. 9.215/1946 — President Dutra banned land-based cassinos. Note: this specifically banned casino-style gambling; lotteries and sports pools continued under separate frameworks.
- Law No. 13.756/2018 — Legalised fixed-odds sports betting and created the Secretaria de Prêmios e Apostas (SPA) within the Ministry of Finance.
- Law No. 14.790/2023 (Lei das Bets) — Signed December 29, 2023, expanding the framework to include online casinos and establishing the modern licensing structure.
- January 1, 2025 — Regulated market formally launched. Only SPA-licensed operators authorised to serve Brazilian players.
- January 1, 2026 — Transition period for legacy unlicensed operators expired. Enforcement intensified significantly through H1 2026.
As of April 2026, the SPA has licensed a substantial number of operators — with licences issued in batches through 2025 (exact current count subject to SPA updates). Major brands including Bet365, Betano (Kaizen Gaming), Sportingbet, Betway, KTO, Estrela Bet, and Pixbet all hold SPA licences and operate under .bet.br domains.
The Brazilian market generated an estimated USD equivalent of BRL 30+ billion in gambling revenue during its first full year of regulated operation, making it one of the largest newly regulated markets globally.
Note on the ‘five brands per licence’ rule: SPA licensed operators can operate up to 5 brands per licence — which means the number of active brands in market exceeds the number of licensed entities.
Why Crypto Is Banned at SPA-Licensed Brazilian Casinos
The prohibition on cryptocurrency payments at SPA-licensed operators is not an oversight. It is a deliberate policy choice grounded in three structural concerns.
1. Anti-money laundering (AML) traceability
Brazilian regulators built a fully traceable, closed-loop payment system. Every Pix transaction carries CPF (Cadastro de Pessoas Físicas) data — the Brazilian taxpayer ID — for both sender and receiver.
Operators are required to verify that the CPF on the incoming Pix matches the CPF on the verified player account. This creates mathematical certainty: the person funding the account is the same verified person playing.
Cryptocurrency breaks this chain. There is no on-chain identifier that maps directly to a Brazilian taxpayer. Under COAF Resolution No. 36/2021, crypto transactions above BRL 10,000 to VASPs already trigger Suspicious Transaction Report (STR) obligations — extending crypto into gambling would compound AML complexity significantly.
2. Player protection from over-leverage
Together with the credit card ban, the crypto prohibition ensures players can only gamble with funds they actually have. Credit cards allow gambling with borrowed money. Crypto can function as a workaround for currency controls and creates unpredictable financial exposure through volatility.
The SPA’s stated rationale: keep gambling activity bounded by liquid, available funds in the player’s verified bank account.
3. Closed-loop Central Bank control
By restricting payments to Pix, TED, and debit cards through Banco Central do Brasil (BCB)-authorised institutions, the SPA created a system where every Real flowing into and out of a licensed operator is visible to the BCB.
The BCB can — and does — block Pix payments to operators not licensed by the SPA. Crypto payments would create an alternative settlement channel entirely outside Central Bank visibility, undermining the architecture.
👉 Key takeaway: Brazil’s regulators view cryptocurrency as fundamentally incompatible with their AML and player protection framework. This is a foundational design choice — not a temporary restriction. Crypto and licensed Brazilian gambling are not converging under the current framework.
Best Offshore Crypto Casinos for Brazilian Players (2026)
If crypto is banned at licensed Brazilian operators, where do Brazilian crypto casino players actually go? Offshore.
Major international crypto casinos — Stake, BC.Game, FortuneJack, Bets.io, Jackbit — accept Brazilian players and offer cryptocurrency-denominated gambling. These platforms operate under offshore licences from jurisdictions including:
- Curaçao Gaming Authority (CGA) — the most common offshore licence for crypto casinos. Regulatory standards vary significantly between CGA sub-licensees.
- Malta Gaming Authority (MGA) — a legitimate EU regulator with meaningful player protections, dispute resolution, and segregated player funds requirements. Significantly stronger than Curaçao.
- Anjouan Offshore Finance Authority — widely considered a low-quality ‘licence mill’ with minimal regulatory oversight. Platforms holding only Anjouan licences offer the weakest player protections.
The quality of the offshore licence matters enormously for players. An MGA-licensed offshore operator offers genuine dispute resolution pathways. An Anjouan-licensed operator offers almost none. When choosing an offshore crypto casino, licence quality should be a primary factor — not just the game library or bonus offer.
Is Stake legal in Brazil?
Stake is the most-searched offshore crypto casino among Brazilian players. Stake operates under a Curaçao licence (CGA sub-licensor). It is not licensed by the SPA. It is not authorised under Law 14.790/2023.
Stake is not ‘illegal’ for Brazilian players to use — individual players are not targeted for prosecution. But Stake is operating illegally as an unlicensed operator serving the Brazilian market. For players: accessible, not prosecuted historically, but zero Brazilian regulatory protection and full personal tax responsibility.
Is It Legal for Brazilians to Use Crypto Casinos?
Brazilian law has clearly defined the operator side. The player side sits in a deliberate grey zone.
For operators: clearly illegal
Unlicensed operators serving Brazilian players violate Law 14.790/2023. The SPA can:
- Block unlicensed operator websites at the ISP level (in coordination with Anatel).
- Prohibit Pix payments to unlicensed operators via BCB instructions.
- Impose fines up to BRL 2 billion per violation.
- Pursue criminal charges in extreme cases.
Through 2025 and into 2026, the SPA has systematically blocked thousands of unlicensed gambling sites. Most affected are smaller offshore operators. Major crypto casinos like Stake generally remain accessible — but the enforcement trajectory is toward tightening.
For players: legal grey zone
Brazilian law does not specifically criminalise individual players using offshore unlicensed gambling sites. There is no historical pattern of player prosecution. Enforcement focus has consistently been on operators and payment processors.
However, several real risks apply:
- Tax obligations. Winnings from offshore platforms are taxable income under Brazilian law. The Receita Federal pursues undeclared gambling income regardless of the platform’s licence status.
- Pix-related blocks. Banks detecting Pix transactions to unlicensed operator addresses may block individual transactions or flag accounts.
- AML monitoring. COAF monitors patterns consistent with offshore gambling. Frequent crypto-to-Reais conversions can trigger Suspicious Transaction Reports from exchanges.
- Currency control issues. Significant crypto transactions involve foreign exchange concepts monitored by the BCB and Receita Federal.
👉 Key takeaway: Individual players are in a grey zone — not specifically targeted, but carrying real tax, AML, and payment friction risks that grow as enforcement tightens.
Tax Obligations for Brazilian Crypto Casino Players: A Worked Example
This is one of the most under-explained areas in Brazilian crypto gambling content — and one of the highest personal risks for players.
The tax framework
- Gambling winnings from offshore platforms are treated as IRPF (income tax) — not capital gains.
- Crypto gains from exchange/conversion are taxed as capital gains at 15–22.5% (progressive) above BRL 35,000/month in total crypto sales.
- Receita Federal declaration is required annually. Non-declaration of offshore income is a federal offence.
Worked example
Scenario: You deposit BRL 5,000 worth of USDT on an offshore crypto casino. You win — and withdraw BRL 15,000 worth of USDT.
| Step | Tax Treatment |
| Deposit BRL 5,000 → USDT on Mercado Bitcoin | Crypto purchase — recorded cost basis. No immediate tax event. |
| Transfer USDT to offshore casino | No Brazilian tax event on the transfer itself. |
| Win BRL 15,000 equiv of USDT | Gambling income — taxable as IRPF. Declare on annual return. |
| Convert USDT back to BRL on exchange | Potential capital gains event on price appreciation. Above BRL 35k/month triggers 15%+ CGT. |
| Withdraw to Brazilian bank | Routine. Exchange files reports with Receita Federal — large amounts flagged. |
Bottom line: failing to declare is not ‘getting away with it’ — it is creating growing Receita Federal exposure as crypto reporting infrastructure tightens under the Marco das Criptomoedas (Law 14.478/2022).
How to Use Crypto Casinos in Brazil: Step-by-Step
Despite regulatory restrictions, Brazilian players continue to access offshore crypto casinos through a chain of individually legal steps.
- Step 1: Buy crypto on a licensed Brazilian exchange. Mercado Bitcoin, Foxbit, NovaDAX, and other CVM-registered VASPs sell BTC, USDT, and other tokens for Reais. These exchanges operate legally under Law 14.478/2022.
- Step 2: Transfer to a self-custody wallet. Trust Wallet, MetaMask, Coinbase Wallet, or hardware wallets like Ledger. The wallet sits outside the banking system and outside SPA visibility.
- Step 3: Deposit to the offshore casino. Send cryptocurrency to the casino’s deposit address.
- Step 4: Play and withdraw. Winnings return to the wallet.
- Step 5: Convert back to Reais (if desired). Send crypto back to a licensed Brazilian exchange and sell for BRL. Withdraw to a bank account.
Each step is legal in isolation. The legal grey zone exists at the intersection — using legal infrastructure to access unlicensed gambling services.
What about VPNs?
Some Brazilian players use VPNs to access offshore casino sites that have been blocked by Anatel. VPN use is not specifically illegal in Brazil — there is no legislation criminalising VPN usage for individuals.
However, using a VPN to circumvent a regulatory block adds a layer of deliberate evasion to the activity. While individual prosecution remains unlikely, it complicates the ‘grey zone’ characterisation. Platforms that require VPN access have been actively targeted by SPA — if the platform itself is shut down or sanctioned, players on it have no recourse.
👉 Key takeaway: VPNs are not illegal to use, but using one to access a blocked gambling site is a signal that the platform is under active SPA enforcement — which raises player risk rather than reducing it.
CVM, BCB, and SPA: Which Regulator Governs Crypto in Brazil?
Three separate regulators touch the intersection of crypto and gambling in Brazil. Understanding which does what prevents confusion.
| Regulator | Full Name | Role in Crypto Gambling |
| SPA/MF | Secretaria de Prêmios e Apostas | Issues gambling licences; enforces crypto ban at licensed operators; blocks unlicensed sites via Anatel |
| BCB | Banco Central do Brasil | Supervises VASPs (crypto exchanges) from 2023; blocks Pix to unlicensed operators; monitors FX exposure |
| CVM | Comissão de Valores Mobiliários | Regulates crypto assets that function as securities; coordinates with SPA on AML; does not directly regulate crypto casinos |
| COAF | Conselho de Controle de Atividades Financeiras | Financial intelligence unit; monitors STRs; COAF Res. 36/2021 requires STRs on crypto transactions above BRL 10,000 |
| Receita Federal | Federal Revenue Service | Taxes gambling income and crypto gains; pursues undeclared offshore winnings |
The Marco das Criptomoedas (Law 14.478/2022)
This law — often underplayed in gambling content — brought all Brazilian Virtual Asset Service Providers (VASPs) under BCB supervision from 2023 onward. It is directly relevant to the crypto-to-offshore-casino flow:
- Licensed Brazilian exchanges (Mercado Bitcoin, Foxbit, NovaDAX) now file detailed transaction reports with the BCB.
- Large or frequent transfers to offshore addresses are visible to regulators.
- The law did not make crypto gambling illegal for individuals — but it made the financial flows increasingly transparent.
What the SPA Enforcement Push Means for Brazilian Crypto Casino Players
Through 2025 and into 2026, the SPA has dramatically intensified enforcement. Political momentum has accelerated this: President Lula publicly expressed concern in February 2026 about the social risks of online betting expansion.
The BPC/welfare recipient betting controversy
One of the biggest gambling news stories in Brazil in 2025 was the discovery that BPC (Benefício de Prestação Continuada) welfare recipients were spending benefit payments on betting platforms.
Under Article 30 of Law 14.790/2023, SPA-licensed operators are now prohibited from accepting deposits from BPC beneficiaries above BRL 1,000/month. This restriction applies only to licensed operators — offshore crypto casinos have no equivalent limit, which is one reason why offshore platforms continue to attract players seeking fewer restrictions.
Four practical impacts on crypto casino players
- Increased website blocking. The SPA, coordinating with Anatel, has blocked thousands of unlicensed gambling sites. Major offshore crypto casinos generally remain accessible. Smaller platforms have been significantly affected.
- Pix payment friction. Brazilian banks have been instructed to block Pix to identified unlicensed operators. This affects indirect Pix collection attempts. Direct crypto deposits are not affected — but the direction of travel is toward tighter monitoring.
- Tax enforcement attention. Receita Federal has signalled increased attention to undeclared offshore gambling income. Players with significant crypto casino winnings face growing inquiry risk.
- AML monitoring. Frequent large crypto-to-Reais conversions can trigger COAF STRs from licensed exchanges. Players making regular offshore casino withdrawals should expect this monitoring.
👉 Key takeaway: The enforcement environment is tightening systematically. The offshore crypto casino path remains open — but it requires more discipline, better record-keeping, and greater awareness of personal tax and AML obligations than it did in 2023 or 2024.
Bonus and Promotion Rules: Licensed vs Offshore
One area where offshore crypto casinos hold a concrete advantage over licensed Brazilian operators: promotional freedom.
Under the Lei das Bets framework, SPA-licensed operators face strict rules on bonus advertising and promotional structure. The SPA has been reviewing and limiting the kinds of acquisition bonuses — free bets, deposit matches — that operators can offer. This is designed to reduce problem gambling risk from aggressive promotions.
Offshore crypto casinos face none of these restrictions. They routinely offer:
- Welcome deposit matches of 100–200%+
- No-deposit free spins and free bet bonuses
- Reload bonuses without SPA-style limits
- VIP programmes with cashback and rakeback
For players, this means offshore crypto casinos often appear more attractive on paper from a bonus standpoint. The trade-off: those bonuses come with no SPA consumer protection backing them. Terms, wagering requirements, and withdrawal conditions are governed only by the platform’s own policies — with offshore licence dispute resolution as the only escalation path.
Is Stake Legal in Brazil? Top Offshore Crypto Casinos Compared
Brazilian players most frequently search for specific platform names. Here is how the major offshore crypto casinos compare on factors that matter most:
| Platform | Licence | BRL Players | KYC | Player Protection |
| Stake | Curaçao (CGA) | Accepted | Required | CGA — moderate |
| BC.Game | Curaçao | Accepted | Tiered | CGA — moderate |
| FortuneJack | Curaçao | Accepted | Required | CGA — moderate |
| Jackbit | Curaçao | Accepted | Optional tiers | CGA — moderate |
| Bets.io | Curaçao | Accepted | Required | CGA — moderate |
Note on Curaçao vs MGA vs Anjouan: MGA (Malta) is a genuine EU regulator with strong player protections. Curaçao offers moderate oversight. Anjouan is widely considered a licence mill — platforms holding only Anjouan licences offer the weakest player protections of any offshore jurisdiction. Always check the specific licence before depositing.
What about mobile apps?
SPA-licensed Brazilian operator apps are available on Google Play and the App Store under .bet.br-compliant listings.
Offshore crypto casino apps have a more complicated picture. Google Play’s gambling app policy restricts listings from unlicensed operators in Brazil. iOS App Store similarly restricts unapproved gambling apps. Most offshore crypto casinos serve Brazilian mobile players via browser-based responsive sites or progressive web apps (PWAs) rather than native app store listings.
If you find a major offshore crypto casino app on the Brazilian App Store or Google Play, it is either operating through a licensed entity structure or the listing has not yet been reviewed for compliance. Browser access or PWA installation directly from the casino’s site is the standard access method.
Final Verdict: The Crypto Gambling Trade-Off in Brazil
Crypto gambling in Brazil exists in structural conflict with the country’s regulated market. The situation is clear:
| Licensed Brazilian OperatorsRegulatory protection from SPA and Brazilian courtsTax simplicity — 15% IR withheld at source above BRL 2,824Pix integration — fast, seamless depositsTransparent responsible gambling toolsBRL 1,000/month limit for BPC recipientsStrict bonus restrictions — fewer promotions | Offshore Crypto CasinosCrypto access — BTC, USDT, ETH and moreHigher bonus offers — matches, rakeback, VIP tiersFaster withdrawals — minutes via blockchainOffshore licence only — no SPA protectionFull personal tax responsibilityGrowing enforcement and AML monitoring risk |
There is no middle path under the current framework. The regulatory direction strongly suggests the gap will not close in the foreseeable future — crypto has not been on any SPA consultation agenda as a permitted payment method.
For Brazilian players who choose offshore crypto casinos: use licensed Brazilian exchanges (Mercado Bitcoin, Foxbit, NovaDAX) for crypto purchases, keep meticulous records of every transaction, declare winnings to Receita Federal annually, and stay aware that the regulatory environment continues to tighten. The offshore path remains open — but requires more discipline than the licensed Brazilian alternative.
Frequently Asked Questions
Is crypto gambling illegal in Brazil?
Crypto is banned at SPA-licensed operators. Using offshore crypto casinos is a legal grey zone for individual players — not specifically criminalised, but carrying real tax and AML obligations. Operating an unlicensed offshore casino serving Brazilians is clearly illegal under Law 14.790/2023.
Is Stake legal in Brazil?
Stake is not SPA-licensed and not authorised under Law 14.790/2023. It is accessible to Brazilian players and not historically prosecuted. But it operates without Brazilian regulatory protection, and players using it carry full personal tax and AML responsibility.
Do I need to declare offshore crypto casino winnings to Receita Federal?
Yes. Offshore gambling winnings are taxable IRPF income regardless of the platform’s licence status. Failure to declare is a federal offence. Crypto conversions above BRL 35,000/month also trigger capital gains obligations. Keep records of every transaction.
Can I use a VPN to access blocked crypto casinos?
VPN use is not specifically illegal in Brazil. However, if a platform requires a VPN to access, it means the site has been actively blocked by SPA/Anatel — which is a signal of elevated enforcement risk. Players using VPNs to access blocked casinos have zero Brazilian regulatory recourse if something goes wrong.
Will Brazil ever allow crypto at licensed casinos?
No SPA consultation agenda or legislative proposal currently addresses this. The closed-loop Pix architecture is by design — crypto would undermine the AML traceability model. No change is expected under the current framework.
What is the BPC betting ban?
Under Article 30 of Law 14.790/2023, SPA-licensed operators cannot accept deposits from BPC (welfare benefit) recipients above BRL 1,000/month. This followed controversy in 2025 about welfare payments being spent on betting platforms. Offshore crypto casinos have no equivalent restriction.
Jogo Responsável & Aviso Legal
This article is for informational purposes only and does not constitute legal, tax, or financial advice. Brazilian gambling law (Law No. 14.790/2023) and SPA/MF ordinances are subject to change without primary legislative action — the SPA can amend payment and operational rules via ordinance alone. Cryptocurrency regulations are evolving under BCB and CVM frameworks. Tax obligations from offshore gambling winnings are the player’s sole responsibility regardless of the platform’s licence status. Regulations may change; jurisdiction-specific variation applies. Consult a qualified Brazilian advogado or contador público before acting on anything in this guide. Gambling may be addictive — play only what you can afford to lose. 18+ only.
Need help? CVV (Centro de Valorização da Vida): 188 (24h, free, confidential). Jogadores Anônimos Brasil: jogadoresanonimos.org.br. Instituto Brasileiro de Jogo Responsável (IBJR): ibjr.org.br.