The Ministry of Treasury and the International Betting Integrity Association (IBIA) signed a cooperation agreement to guarantee the integrity of sports betting in the country.
The agreement will allow both parties to share information about suspicious betting activities related to Brazilian sport and collaborate in investigations.
This partnership unites the government body, which is responsible for ensuring the legality, security and reliability of the Brazilian betting market, with the largest international organization monitoring betting integrity for private operators.
Furthermore, IBIA, which, according to the sector’s leading data and intelligence company, H2 Gambling Capital, should cover more than 70% of the online betting market in Brazil, will work together with the Ministry of Treasury. Together, they will seek to combat matc-fixing.
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 revenue of US$34 billion by 2028.
With this growth comes an increased responsibility to protect customers, the sport and betting operators against match-fixing.
A key element of the new Brazilian legislation is the requirement that operators seeking licensing join an independent sports integrity monitoring body.
This measure, therefore, aims to strengthen IBIA’s ability to monitor, evaluate and protect betting transactions in the Brazilian regulated market. As a result, this ensures the integrity of sporting events.
Details of IBIA’s agreement with the Ministry of Treasury
Regis Dudena, Secretary of Prizes and Betting, said: “Cooperation with IBIA will strengthen the work of the Secretariat of Prizes and Bets (SPA) in combating the manipulation of sporting events. Together, we will mitigate this problem on a global scale.”
Khalid Ali, CEO of IBIA, stated: “IBIA is delighted to have reached this agreement with the Ministry of Treasury and commends the government’s focus on creating a robust ecosystem to combat match-fixing in sports betting.
Collaboration and information sharing are essential to the success of this ecosystem. In line with the agreement, IBIA will identify and report to the Ministry of Treasury suspicious bets on Brazilian sporting events, providing detailed customer account data, which is exclusive to IBIA and its members, to assist with investigations.”
Frederico Alves Soares Justo, General Coordinator of Money Laundering and Related Monitoring at the Ministry of Treasury, added: “For the Prizes and Bets Secretariat, signing this agreement with IBIA represents the certainty that we are on the right path to curb the manipulation of results.
We will make the most of IBIA’s experience in monitoring the betting market to create mechanisms that combat this practice that undermines the credibility of sport and the betting market. It’s a partnership in which everyone wins.”
About IBIA
IBIA is an international non-profit organization that seeks to protect the integrity of sport and the betting industry. In this way, it combats the manipulation of results and fraud related to betting.
The organization offers a free integrity monitoring service to sporting bodies, regulators and law enforcement agencies. This allows all parties to cooperate efficiently in investigating, punishing and preventing match-fixing in sports betting.
IBIA monitors betting volume in excess of $300 billion per year across more than 125 sports betting brands globally. Consequently, this makes it the largest betting integrity monitoring organization for private operators in the world.
Additionally, the association’s unmatched access to detailed global customer transactional data plays a key role. This capability is crucial in protecting the Brazilian sports betting market and sporting events against corrupt activities.
