IBJR announces four new members to advance industry regulation discussions (1)
IBJR announces four new members to advance industry regulation discussions

With the role of collaborating with information and experiences for the public debate on the regulation of the sports betting sector, the Brazilian Institute of Responsible Gaming (IBJR) announced, today (5), the arrival of four new members. They are: Novibet, LeoVegas, Pay4Fun and Grupo OKTO. The objective is to expand the group’s activities and expertise to create a sustainable Brazilian market.

The two international betting sites, Novibet and LeoVegas, arrived in Brazil recently. The first operates in Europe since 2010 and recently arrived in Latin America (Mexico, Ecuador, Chile and Brazil). It offers a technological platform that promises a better entertainment experience for the user. The second, LeoVegas, started operating in 2019, in Brazil, providing entertainment through games, online and live, in addition to sports betting.

Pay4Fun and the OKTO Group are online payment solutions, references in the sports betting sector, allowing players to carry out transactions securely.

Pay4Fun, a 100% Brazilian company (based in São Paulo and with Brazilian partners) that has been operating in the market since May 2018, offers a virtual wallet (e-wallet) and a gateway solution (GO), in which payments and transfers to and from accredited sites are carried out in a simple way and without bureaucracy. It is the first and only payment institution (IP) in the online gaming and betting sector to be regulated and authorized by BACEN (Central Bank of Brazil).

The OKTO Group has been established in the online gaming and betting market since 2019. Fintech supports responsible gaming by providing major international operators with technology that allows secure transfers, in real time, with an omnichannel approach. In addition to Brazil, the OKTO Group operates in already regulated markets, such as Romania, Italy, Greece, Germany, the United Kingdom and Spain.

According to the CEO of the IBJR, André Gelfi, “the new members are companies of great prestige in the betting sector, have international expertise in regulated markets and identify with the IBJR’s mission of collaborating with society for a regulated, fair market , sustainable and that prioritizes sporting integrity and player safety”.

From now on, the Brazilian Institute of Responsible Gaming increases its market presence with 13 members. They are ten international sports betting operators (Bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group, Novibet and LeoVegas), a fantasy games company (Rei do Pitaco) and two payment (Pay4Fun and Grupo OKTO).

About the Brazilian Institute of Responsible Gaming – IBJR

The Brazilian Institute of Responsible Gaming (IBJR) was born from the union of the Bet365, Flutter, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group, Rei do Pitaco, Novibet, LeoVegas, Grupo OKTO and Pay4Fun with the objective of to foster the debate on the regulation of this segment in Brazil, contributing with information to defend the creation of clear rules and guidelines so that sports betting companies can operate legally, protecting the interests of players and civil society.