The new regulations aim to provide operators and authorities with enhanced tools to address corruption within the realm of sports betting.
The International Betting Integrity Association (IBIA) has commended the forthcoming alterations to Brazil’s sports betting laws. Introduced by the Brazilian Chamber of Deputies, the new bill sets up a new regulatory licensing framework for operators within Brazil. The bill now awaits the President’s signature for enactment. These regulations will encompass both online casinos and sportsbooks, with specific additional criteria for sportsbooks to join an external, international monitoring entity.
Khalid Ali, CEO of IBIA, said: “This is a historic moment for sports betting in Brazil and is a major step forward in the fight against match-fixing.”
“IBIA welcomes the adoption of specific betting integrity provisions in the law, which the association has been campaigning for since discussions on regulating sports betting began in 2018.”
“A number of Brazilian market-focused operators have already joined IBIA, and we look forward to engaging with other operators intent on offering well-protected sports betting products to Brazilian consumers via IBIA’s integrity network.”
Furthermore, sports betting operators will have the capability to halt wagering on matches that are under investigation due to suspected corruption or fraudulent activities.
Ali added: “Although the new law is a very important milestone in the fight against match-fixing, there is no room for complacency.”
“We are committed to working more closely and sharing our expertise with the Brazilian regulatory authorities on the implementing regulation on integrity, as well as with sports and law enforcement to ensure we more effectively detect, deter and sanction sports betting-related match-fixing and fraud.”
“By opening up the market to licensed sports betting operators Brazil is sending a very important message to other markets in Latin America that a dynamic and competitive regulated sports betting framework with strong integrity provisions is essential to the fight against sports betting-related match-fixing.”
