IBIA welcomes Brazilian sports betting law progress
The new laws are intended to give operators and authorities stronger measures to deal with corruption in sports betting.
The International Betting Integrity Association (IBIA) has praised pending changes to the sports betting laws in Brazil.
The new bill was introduced by the Brazilian Chamber of Deputies and establish a new regulatory licensing system for operators in Brazil. It is now left for the President to sign.
This will apply to both online casinos and sportsbooks, with additional requirements for the latter to join an independent and international monitoring body.
Khalid Ali, IBIA CEO, 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.”
In addition, sports betting operators will be able to suspend bets on matches that are under investigation for corruption or fraud.
Ali continued: “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.”
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