IBIA Pledges Efforts to Ensure Integrity of Brazil’s Betting Market
LISTEN TO THIS ARTICLE:The International Betting Integrity Association (IBIA) has announced that it will double down on its efforts to eradicate match-fixing operations in Brazil.
In an official release, the organization confirmed that it would deploy its proprietary monitoring and alert network in Brazil to successfully “deter, investigate and prosecute match-fixing” and protect the integrity of the state’s sports betting market.
Recently, Brazil’s Ministry of Finance revealed some of the laws that will be implemented to regulate sports betting at the federal level.
Although sports betting was approved in the country four years ago by Law 13,756, the industry has not yet been regulated, thereby giving bookmakers free rein to operate in the jurisdiction. According to the Ministry, this has led to an annual loss of about R$6bn to R$8bn to the state since 2019.
Part of the new government sports betting measures is to require betting operators to have a physical headquarters in Brazil and start paying taxes. While these new regulations will shape the future of Brazil’s betting market, the IBIA has also warned that it could lead to higher criminal activity.
We welcome the Brazilian government’s decision to regulate the sports betting industry as an overwhelmingly positive move. As IBIA’s 2021 optimum betting market study confirms, balanced and efficient sports betting regulation is part of the solution to sports betting-related match-fixing. IBIA looks forward to working with policymakers to ensure Brazil enjoys the full benefits of a dynamic and competitive sports betting market whilst reducing the risks of match-fixing.
Last week IBIA published its Q1 2023 Integrity Report, which revealed that the organization received 40 suspicious betting alerts across nine sports in the first quarter of the year.
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