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IBIA Hails Brazil’s New Sports Betting Law for Integrity Measures

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A landmark moment in Brazil’s sporting landscape has arrived with the adoption of a transformative sports betting law.

The International Betting Integrity Association (IBIA) heralds this significant leap, which introduces a robust regulatory framework for sports betting and online casinos in Brazil.

Envision a sports betting environment imbued with integrity, protected against match-fixing, and fostering a safe space for operators and consumers alike.

Dive into the details of Brazil’s pioneering legislation and IBIA’s role in shaping a secure and regulated sports betting future.

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The International Betting Integrity Association (IBIA) has warmly welcomed the Brazilian Chamber of Deputies’ adoption of a groundbreaking sports betting law. This comprehensive legislation ushers in a new era for Brazil’s gaming sector, introducing a meticulous regulatory and licensing system for operators in both sports betting and online casinos. A significant aspect of this law is its focus on integrity measures, designed explicitly to combat sports betting-related match-fixing.

A key provision of the law mandates sports betting operators to join an international monitoring body. This stipulation, as per the IBIA, is pivotal in establishing robust mechanisms to safeguard operators, their customers, and sports from potential fraud and manipulation. Additionally, the legislation empowers betting operators to suspend payments on bets for matches under investigation for potential corruption, a move lauded by the association as crucial in protecting operators and deterring sports betting-related fraud.

Khalid Ali, CEO of IBIA, remarked, “This is a historic moment for sports betting in Brazil and represents a major advancement in the battle against match-fixing. IBIA is proud to have advocated for specific betting integrity provisions in the law since discussions on regulating sports betting began in 2018.”

“A multitude of Brazilian market-focused operators have already joined IBIA. We eagerly anticipate collaborating with other operators who are committed to offering secure sports betting products to Brazilian consumers via IBIA’s leading integrity network,” he added.

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The IBIA stands as a not-for-profit entity, distinct in its operation without conflicting commercial service interests to other sectors. The association prides itself on being a collaborative platform “by operators for operators.” It diligently monitors around $150 billion in betting transactions across approximately 650,000 competitive sporting events worldwide.

Per H2 Gambling Capital, IBIA members currently account for over 60% of the remote gambling market in Brazil. In a recent press release, the Association highlighted that its international monitoring and alert network would provide precise and comprehensive intelligence on suspicious betting activity in Brazilian sports. This intelligence will be invaluable to betting regulators, law enforcement, and sports governing bodies.

“Despite the new law marking a crucial milestone in the fight against match-fixing, there is no room for complacency. We are dedicated to fostering closer collaboration and sharing our expertise with Brazilian regulatory authorities on implementing regulation on integrity, as well as with sports and law enforcement to enhance our collective ability to detect, deter, and sanction sports betting-related match-fixing and fraud,” stated Khalid Ali.

Opening markets to licensed sports betting operators is vital for safeguarding consumers and the integrity of sporting competitions from sports betting-related match-fixing, according to the association. Regulated sports betting markets effectively divert consumers from unregulated markets, where most match-fixing and corruption issues arise.

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“Sports betting operates within a highly competitive international market. An excessively burdensome regulatory and tax framework can inadvertently drive sports betting customers into unregulated markets. This shift reduces tax revenues and heightens the risks of corruption and match-fixing,” IBIA noted in its statement.

While IBIA appreciates the Chamber of Deputies’ restraint from imposing higher levels of gambling taxation, the association cautions that the cumulative tax burden and the substantial licensing fee, currently BRL 30 million, may hinder investments in Brazil.

“By welcoming licensed sports betting operators, Brazil is sending a powerful message to other Latin American markets. A dynamic and competitive regulated sports betting framework with robust integrity provisions is vital in combating sports betting-related match-fixing,” concluded the CEO.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report

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In a dynamic year for the iGaming industry, the SOFTSWISS Jackpot Aggregator has released its 2023 report, offering insights into significant trends and achievements.

Notably, the report reveals a staggering 2.6 times increase in bets participating in jackpots, shedding light on the growing appeal of these mechanics among operators and players alike.

A Year of Remarkable Growth

Throughout 2023, bets participating in jackpots experienced consistent quarterly growth, witnessing a remarkable 165% increase from January to December. By the end of the year, the total value of these bets had surged to an impressive 6.396 billion euros. Moreover, the number of jackpot campaigns witnessed a substantial growth of 3.8 times compared to the previous year, totaling 230 campaigns.

Expanding Reach and Impact

One of the standout achievements of 2023 was the expansion of the Jackpot Aggregator’s footprint. The number of brands utilizing its jackpot solution tripled within the year, culminating in over 70 active brands by year-end. This surge in adoption reflects a heightened level of market trust and interest in the product.

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Introducing the Prime Jackpot Campaign

A significant milestone of 2023 was the introduction of the Prime Jackpot campaign, which debuted in Q4. This innovative feature garnered considerable attention and interest from players across various casinos. The Prime Jackpot campaign allows operators to participate in shared prize pools, ensuring that rewards are drawn from the collective pool rather than from a specific brand operator. This approach not only offers larger rewards to attract more players but also enhances player engagement and loyalty while optimizing operational costs for operators.

Insights from SOFTSWISS

Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, shared his insights into the year’s achievements. He emphasized the noticeable increase in clients and connected casino brands, as well as the growing volume and value of bets in jackpots. He expressed satisfaction in witnessing clients actively embracing the Jackpot Aggregator and recognizing the added value it brings to their brand operations. The solution empowers operators to provide players with enhanced gaming experiences and more enticing winnings. Client feedback is actively collected and analyzed to ensure clients have access to the most sought-after tools and mechanics.

Looking Ahead to 2024

In 2024, the SOFTSWISS Jackpot Aggregator is set to extend its reach to a wider spectrum of clients. This expansion will be guided by a customized approach, ensuring that each client can tailor the product’s capabilities to meet their specific requirements.

Meet SOFTSWISS at ICE London

The SOFTSWISS Jackpot Aggregator team will be present at ICE London from February 6th to 8th, 2024. They are ready to showcase their latest advancements and engage in discussions with existing and potential clients.

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About SOFTSWISS

SOFTSWISS is a renowned international iGaming company that offers certified software solutions for managing gambling operations. With a dedicated team of over 2000 employees spread across Malta, Poland, and Georgia, SOFTSWISS holds multiple gaming licenses and provides comprehensive iGaming software solutions. Their diverse product portfolio includes the Online Casino Platform, the Game Aggregator featuring thousands of casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator. In 2013, SOFTSWISS made history by introducing the world’s first Bitcoin-optimized online casino solution.

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