Brazil is one of the many countries that are a profitable target of online casino operators. Because of this, many betting sites tend to accept players residing in this jurisdiction.
The problem, though, lies in the regulation of betting sites in the country. As a result, Brazilian bettors might find it difficult to find online gaming hubs that offer popular payment methods like Neteller or Visa.
However, gamers in the country have an alternative payment method in the form of Boleto Bancário, regulated by the Central Bank of Brazil. Launched in 1993, the banking channel is one of the most popular payment methods in Brazil, processing 3.7 billion transactions per year.
How the Boleto Bancário System Works
Boleto Bancário is a bank transfer system that features processes similar to systems of other countries. To top up your account, you must first fill up a bank slip with the necessary details. Information you have to provide includes the issuer bank information, a 44-digit ID number, the amount value, and the due date. After that, you pay physically or electronically at any branch or at authorized processors such as drugstores, post offices, and supermarkets.
It might disappoint you, though, that processing via Boleto Bancário might take some time. After the payment is processed, it will take one to three business days before the funds reflect in your casino account. On the other hand, some payment providers are capable of confirming boleto payments within 24 hours or less. Because of that, depending on the provider used by the platform where you are playing, you might be able to start playing without too much delay.
Depositing Using Your Mobile Device
Fortunately, mobile versions of Boleto Bancário are available. This makes it easy for you to deposit and withdraw your funds on your phone or tablet. Even better, you can make transactions at any ATM or self-service banking terminal in the country.
To make a deposit, just copy the data and paste it into the corresponding field of the bank app. You then have to rotate your device to preview and scan the bank slip’s barcode. After that, wait for the deposit amount to be credited into your account.
You may not have many options when making casino transactions in Brazil. But at least Boleto Bancário is one of the few reliable banking channels around. Despite the longer waiting times, you can be sure that your funds are complete when you deposit and withdraw using this method.