Boleto Bancário Casinos
Boleto Bancario is one of the most common payment services for residents in Brazil. The company currently boasts a 25% market share of the Brazilian payment industry. It is responsible for more than 3 billion transactions each year, with many residents using it in their day-to-day lives.
Brazil is a country with notoriously strict gambling rules since their social party came into power. Many traditional methods like bank transfers and credit cards can get blocked, making it difficult for customers to play online. Since then, many alternative payment methods have popped up to cater exclusively to this growing demand. One of the most popular is Boleto Bancario. Roughly translated, Boleto means ‘Ticket.’
Boleto operates a Consumer-Push voucher, where the customer receives a pre-filled invoice and pays it via various secure ways. This solution offers a range of benefits to merchants and customers, with reduced fraud, convenient local cash & online payment options, and easy access to more online services. The list of Boleto Bancario casinos catering to this market has recently increased, and now you can find more than 50 catering to Brazilians.
A Brief History of Boleto Bancario
Boleto Bancario was founded in 1993 in Curitiba, Brazil. Matheus Bernert was the co-founder & CEO, with Eduardo Simio also co-founder. This team had a view to offering a more diverse and fluent payment system that the entire population could easily use. Not just those that owned bank accounts. They had a goal to open payments to the whole country.
The system grew and became popular, eventually partnering with Brazil’s Central Bank as a primary payment gateway. This move helped the company boom and gain millions of loyal customers across Brazil. They also became part of EBANX, expanding their reach to big merchant giants like Alibaba and Wish.
Fast forward to today, and you can pay Boleto vouchers at 45,000 ATMs, 12,000 Lottery Agents, 1000’s Post Offices, and many other reputable businesses. Due to this simplicity, a Boleto is one of the most common casino payment methods for Brazilians. Over 3 Billion transactions are processed every year, making an average of over 8 Million boleto payments each day!
Boleto Bancario – Pros and Cons
- No bank or credit card is needed.
- No risk of chargebacks or identity fraud
- Convenient cash payment method for millions of Brazilians
- Slow processing time: Settlement = 2-3 days
- Bank processing fees involved (1-12BRL)
- No withdrawals
How to use Boleto Bancario at Online Casinos
The first step is finding the best Boleto Bancario casinos and picking which one to sign up for. Once you’ve discovered your site, you will need to create an account and fill out all the necessary details. It’s essential to fill in your details correctly because you will need to verify your ID to make a cashout if you win.
Once you’ve verified your email and have your casino account set up, it’s time to make a deposit. Navigate over to the Cashier section in the lobby. You will see numerous options. Look for Boleto Bancario and click that to get started.
Here you will need to enter details for your transaction. This will include the amount you wish to deposit and currency. Once complete, the casino will supply send you to a Boleto Bancario page.
You will find a pre-filled Boleto slip with the details so you can pay their agent for the deposit. This will include the Barcode, Merchant Name, Vendor Name, Bank Name, Due Date, and the fields for you to fill in.
You can choose to pay via online banking or offline with a printed ticket. If the boleto isn’t paid by the due date, you will incur late fees for each additional day.
If paying offline, you will need to head down to a local bank, Boleto ATM, Lottery Agent, Post Office, or other business that’s authorized to process the voucher. There will be a bank processing fee that varies between 1-12BR.
Once you’ve paid the voucher, you will receive a confirmation number. The confirmation is straight away, but fund settlement can take 2-3 business days. Once this is complete, the funds will be available to play in your casino account.
Unfortunately, you can not use Boleto to process withdrawals at online gambling sites. This is a bit of a setback, but many of the top online casinos offer a range of other handy cash-out options, including Cash, E-Wallets, Mobile Payments, Crypto Currency, and ATM payments. So when you’re looking for your ideal online site, have a look at their withdrawal options to make an informed decision.
Boleto Bancario is a well-established, trusted, and regulated payment method available for Brazilians. The system provides a secure way for customers to pay online or offline at cash at ATMs, banks, and shops, without using their banking or credit card details online.
It’s no wonder they have nearly 25% market share in Brazil. With more and more merchants popping up, like Boleto Bancario casinos, this payment method is trendy and the perfect way for Brazilians to fund their online accounts securely.
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Boleto Bancário FAQ
Is Boleto Bancario safe to use?
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