Brazil's Ministry of Finance and the International Betting Integrity Association (IBIA) have signed a cooperation agreement to ensure the integrity of sports betting in the country. The agreement will allow both parties to share information on suspicious betting activities related to Brazilian sport and collaborate on investigations.
This partnership brings together the government body responsible for ensuring the legality, security and reliability of the Brazilian betting market with the largest international organisation monitoring the integrity of betting for private operators.
IBIA and Spelinspektionen signs memorandum of understanding for betting integrity on betting’s
IBIA, which according to the leading data and intelligence company in the sector, H2 Gambling Capital, should cover more than 70% of the online betting market in Brazil, will work together with the Ministry of Finance to combat match manipulation. According to the study The Availability of Sports Betting Products:
An Economic and Integrity Analysis, published this year, the new regulation of sports betting in Brazil is expected to generate revenues of $34 billion by 2028. With this growth, the responsibility to protect customers, sports and betting operators against match-fixing will increase. A key element of the new Brazilian legislation is the requirement that operators applying for a license join an independent sports integrity monitoring body. This measure aims to strengthen IBIA's ability to monitor, evaluate and protect betting transactions in the Brazilian regulated market, ensuring the integrity of sporting events.
Regis Dudena, Secretary for Prizes and Betting, stated in this regard that “cooperation with IBIA will strengthen the work of the Secretariat for Prizes and Betting (SPA) in the fight against the manipulation of sporting events.
Together, we will mitigate this problem on a global scale.” Khalid Ali, CEO of IBIA, said: “IBIA is delighted to have reached this agreement with the Ministry of Finance and commends the government’s focus on creating a robust ecosystem to combat match-fixing in sports betting.” “Collaboration and information sharing are essential for the country. In line with the agreement, IBIA will identify and report suspicious bets on Brazilian sporting events to the Ministry of Finance, providing detailed data on customer accounts, which are exclusive to IBIA and its members, to assist in investigations.”
Frederico Alves Soares Justo, General Coordinator of Money Laundering and Related Monitoring at the Ministry of Finance, added that “for the Secretariat of Prizes and Betting, the signing of this agreement with IBIA represents the certainty that we are on the right path to curb the manipulation of results.” “We will leverage IBIA’s experience in monitoring the betting market to create mechanisms to combat this practice that undermines the credibility of sport and the betting market.” IBIA is an international non-profit organisation that seeks to protect the integrity of sport and the betting sector by combating match-fixing and betting-related fraud. The organisation offers a free integrity monitoring service to sports bodies, regulators and law enforcement agencies, free of conflicts of interest, allowing all parties to cooperate efficiently in the investigation, sanctioning and prevention of match-fixing in sports betting. IBIA monitors a betting volume of more than $300 billion per year across more than 125 sports betting brands worldwide, making it the largest betting integrity monitoring organisation for private operators in the world. The association's access to detailed transactional data of global customers plays a key role in protecting the Brazilian sports betting market and sporting events from corrupt activities.
