IBIA Applauds Landmark Approval of Brazilian Sports Betting Law
International Betting Integrity Association Commends Brazilian Chamber of Deputies for Pioneering Legislation
December 26, 2023
The International Betting Integrity Association (IBIA) celebrates the momentous decision by the Brazilian Chamber of Deputies to pass the Sports Betting Law. This legislation marks a historic milestone in Brazil’s sports betting landscape, introducing a comprehensive regulatory and licensing framework covering both sports betting and online casinos.
The Sports Betting Law incorporates a range of integrity measures aimed at fortifying the battle against match-fixing associated with sports betting. Among its key provisions is the mandatory inclusion of sports betting operators in an international monitoring body. This requirement aims to establish robust mechanisms to safeguard operators, their clientele, and the integrity of sports competitions from potential fraud and manipulation.
Khalid Ali, CEO of IBIA, expressed his enthusiasm, stating, “This is an historic moment for sports betting in Brazil and is a major step forward in the fight against match-fixing.” He emphasized the importance of the law’s integrity provisions, a cause IBIA has championed since the onset of discussions surrounding sports betting regulation in 2018.
Ali continued, “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.”
The law mandates sports betting operators to be part of IBIA’s international monitoring and alert network, the largest of its kind globally, overseeing approximately US$150 billion in betting transactions on around 650,000 competitive sporting events. H2 Gambling Capital reports that IBIA members already represent over 60% of the remote gambling market in Brazil.
While applauding the approval of the law, IBIA acknowledges the need for continued collaboration. Khalid Ali affirmed the association’s commitment to work closely with Brazilian regulatory authorities, sports entities, and law enforcement to ensure effective detection, deterrence, and sanctioning of sports betting-related match-fixing and fraud.
However, IBIA urges caution regarding the potential impact of the law’s overall tax burden and the substantial licensing fee, currently set at BRL 30 million. While commending the Chamber of Deputies for resisting higher gambling taxation, IBIA notes that these financial considerations may deter investments in the Brazilian market.
In conclusion, IBIA views the approval of the Sports Betting Law as a positive stride towards a regulated, transparent, and integrity-focused sports betting environment in Brazil, with hopes that it will set a precedent for other Latin American markets.
