The Brazilian Institute of Responsible Gaming (IBJR) has been created by nine operators, to contribute to the development of the Brazilian gambling market.
The founding operators include bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group and Rei do Pitaco.
André Gelfi, Director of Betsson and Elected President of the Institute, said: "The IBJR's mission is to collaborate with all sectors of society that want to learn more about the industry and understand how it can be harmoniously integrated into the Brazilian economy, as it has in other countries.
“We want to help build a safe regulatory environment for customers while financing the public sector and creating a sustainable operating environment for companies.
“And it is clear that the sector's sensitive aspects, such as compulsive gambling and money laundering, must be addressed in a forceful, logical, and responsible manner.”
The Brazillian Federal Government plans to regulate sports betting later in 2023 through law 13.756/18.
Rafael Marcondes, Legal Director of the IBJR, said: "When it comes to tax collection, Brazil has fallen behind, allowing the proliferation of companies that are not committed to responsible gaming, which jeopardises the credibility of the market without providing minimum guarantees to consumers."
Gelfi concluded: “No other country has enjoyed such a favourable environment for the construction of a successful regulation that can be an example for the world.
“The Government can use aspects of countries that have successfully regulated and adapt them to the local reality.”