Is the word bolo the same in Brazilian and European Portuguese?

No

While the primary meanings of "bolo" (cake, lump, or tangle) are identical in both dialects, the answer is No because of differences in typical usage and pronunciation.

In Brazilian Portuguese, the expression "tomar um bolo" is a common idiomatic way to say that someone was "stood up" on a date. In Continental Portuguese, this specific usage is not used; instead, they use the expression "levar um cano." Additionally, there is a difference in pronunciation: Brazilian Portuguese features more open and clear vowels, whereas Continental Portuguese tends to reduce or close vowels, making the "o" sound more neutralized or muffled.

Brazilian Portuguese Examples

1. Eu fiz um bolo de chocolate para o café. (I made a chocolate cake for coffee.)
2. Ela levou um bolo e ficou esperando no restaurante. (She was stood up and stayed waiting at the restaurant.)
3. Esse bolo de milho está muito fofinho. (This corn cake is very fluffy.)
4. O cabelo dela estava um bolo de nós. (Her hair was a tangle of knots.)
5. Tem um bolo de lama no meio da trilha. (There is a lump of mud in the middle of the trail.)

Continental Portuguese Examples

1. Eu fiz um bolo de chocolate para o lanche. (I made a chocolate cake for a snack.)
2. Ela levou um cano e não apareceu. (She was stood up and didn't show up.)
3. Este bolo de milho está muito fofinho. (This corn cake is very fluffy.)
4. O cabelo dela estava um emaranhado de nós. (Her hair was a tangle of knots.)
5. Há um grumo de lama no meio do trilho. (There is a lump of mud in the middle of the trail.)