The Brazilian Chamber of Deputies has introduced a groundbreaking bill that will revolutionize sports betting in Brazil. The bill establishes a new regulatory licensing system for operators and is now awaiting the President’s signature.
This exciting development will impact both online casinos and sportsbooks, with a particular focus on ensuring integrity in sports betting. Operators will be required to join an independent and international monitoring body.
Khalid Ali, CEO of the International Betting Integrity Association (IBIA), expressed his enthusiasm, stating, “This is a historic moment for sports betting in Brazil and a significant milestone in the fight against match-fixing.” IBIA has long campaigned for the inclusion of betting integrity provisions in the law, ever since discussions about regulating sports betting first began in 2018.
Several Brazilian market-focused operators have already joined IBIA, and the association looks forward to collaborating with other operators committed to providing secure sports betting options to Brazilian consumers through IBIA’s integrity network.
Additionally, the new law empowers sports betting operators to suspend bets on matches that are under investigation for corruption or fraud. Ali emphasized the importance of continued efforts, saying, “While this new law is a crucial step in combating match-fixing, we must remain vigilant. We are dedicated to working closely with the Brazilian regulatory authorities, as well as sports and law enforcement agencies, to effectively detect, deter, and penalize sports betting-related match-fixing and fraud.”
By embracing licensed sports betting operators, Brazil sends a powerful message to other Latin American markets about the necessity of a dynamic and competitive regulatory framework with strong integrity provisions in the fight against sports betting-related match-fixing.