A centrifugal braking device for a bait casting reel. A spool has a spool shaft which is rotatably coupled to a reel body. A brake housing is coupled to one end of the spool shaft to be rotated integrally with the spool and has sliding grooves. Brake elements are slidably received in the sliding grooves to be rotated integrally with the spool. A brake drum can be brought into frictional contact with the brake shoes to selectively limit rotation of the brake housing to some extent. The brake elements are positioned differently from one another by a predetermined angle along a circumferential direction and slidably received in the sliding grooves, respectively. A frictional force between outer end surfaces of the brake elements and an inner surface of the brake drum is selectively increased or decreased depending upon a rotation direction of the brake elements.