Nine international firms form Brazil gambling association
The operators are all interested in expanding into the Brazilian gambling market when it opens.
Brazil.- Nine international gambling companies have formed a responsible gambling association ahead of anticipated federal regulation for sports betting. The Brazilian Institute of Responsible Gaming (IBJR) comprises bet365, Betsson Group, Betway Group, Entain, Flutter, KTO Group, Netbet Group, Rei do Pitaco and Yolo Group.
All nine companies are interested in entering the Brazilian sports betting market when it opens at the federal level. André Gelfi, managing partner for Brazil at Betsson Group, has been elected as President of the group, which will aim to contribute to the “discussion and development” of Brazil’s national fixed odds betting market.
The group believes that the experience of the nine companies, which between them operate in more than 100 countries, can help define the rules for the Brazilian market. It noted that its members have experience in both “successful and unsuccessful regulated markets”, which can help inform Brazil’s path.
Gelfi said: “The IBJR’s mission is to collaborate with all sectors of society that want to learn more about the industry and understand how it can be harmoniously integrated into the Brazilian economy, as it has in other countries.
“We want to help build a safe regulatory environment for customers, while financing the public sector and creating a sustainable operating environment for companies.”
Gelfi added: “The issue of responsibility appears in the name of the institute precisely because this is the mainspring for all actors involved in markets that have successful regulation.
“In these places, sports betting is seen as a source of entertainment that helps preserve the integrity of sport. And it is clear that the sector’s sensitive aspects, such as compulsive gambling and money laundering, must be addressed in a forceful, logical, and responsible manner.
“No other country has enjoyed such a favourable environment for the construction of a successful regulation that can be an example for the world. The government can use aspects of countries that have successfully regulated and adapt them to the local reality.”
Brazil’s new president Luiz Inácio Lula da Silva is widely believed to eventually sign off on sports betting regulation this year. So far only the state of Minas Gerais has launched regulated sports betting in a statewide pilot, although other states also have plans to go it alone amid the continued delays in federal regulation.
IBJR director Rafael Marcondes compared the situation with the US, where sports betting is rolling out on a state-by-state basis. He claimed that Brazil had fallen behind when it comes to tax collection, allowing companies without adequate responsible gaming commitments to gain headway, which “jeopardises the credibility of the market without providing minimum guarantees to consumers”.
