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IBIA is pleased with the passage of the Sports Betting Law by the Brazilian Chamber of Deputies. The law establishes a system of licensing and regulation for Brazilian operators for online and sports betting. The law also contains a number of integrity measures that strengthen the fight against match-fixing related to sports betting.
In the law, sports betting operators must be a part of a monitoring group. This will ensure that proper mechanisms are in place to protect operators, customers and sports from fraud or manipulation. The ability of betting operators to suspend the payment of bets on matches under investigation due to potential corruption is also important for protecting operators and preventing sports betting fraud.
Khalid Ali said, “This is an historical moment for Brazilian sports betting and is a significant step forward in the battle against match-fixing.” IBIA is pleased that the betting integrity provisions have been adopted into the law. The association has been fighting for this since the discussions about regulating sports betting started in 2018. IBIA has already attracted a number of Brazilian-focused operators. We look forward to working with other operators who are also interested in offering Brazilians well-protected products for sports betting via IBIA’s world leading integrity networks.
IBIA was created by operators for other operators. Its monitoring and alert system combines the resources and expertise from many of the largest, regulated sports betting firms in the world. It monitors around US$150bn of betting transactions for approximately 650,000 sporting events worldwide, making it one of the world’s largest monitors.
H2 Gambling Capital, the leading independent authority in global gambling market data, reports that IBIA members account for more than 60% of remote gambling in Brazil.
IBIA’s international monitoring network and alert system will provide accurate, detailed information on suspicious betting activities on Brazilian sports to betting regulators and law enforcement agencies.
Khalid Ali said: “The new law is an important milestone in the battle against match-fixing but there is no place for complacency.” We are committed in working closely with Brazilian regulatory authorities to implement the integrity regulation, and with law enforcement and sports to detect, deter, and sanction match-fixing related to sports betting.
It is important to protect consumers from match-fixing related to sports betting by opening markets to licensed operators. Regulated markets for sports betting divert consumers from unregulated markets, where match-fixing issues and corruption are most prevalent.
Khalid Ali added: ” Brazil’s opening of the market to licensed operators in sports betting is a powerful message to Latin American markets that a competitive and dynamic sports betting framework, with strict integrity provisions, is vital to combat match-fixing related to sports betting.
A highly competitive market exists for sports betting. An overly burdensome regulatory and taxation framework will unintentionally have the unintended and counterproductive consequence of driving customers to unregulated markets. This will reduce tax revenues, increase the risk of match fixing and corruption, and drive them into unregulated markets.
The overall tax burden, as well as the cost of the license fee (BRL 30m), may discourage investment in Brazil.
