A group of global operators in Brazil has joined forces to create a responsible gambling association as the country edges ever closer to a regulated sports betting regime.
Despite the disappointment of former President Jair Bolsonaro’s failure to sign sports betting regulations before the end of his premiership last year, there is growing belief that 2023 will be the year for the industry.
The current incumbent President Luiz Inacio Lula da Silva is expected to sign the regulations opening up Brazil’s legal and regulated market this year.
As a result, a group of operators, including bet365, Betsson Group, Betway Group, Entain, Flutter, KTO Group, Netbet Group, Rei do Pitaco and Yolo Group, have joined to create the Brazilian Institute of Responsible Gaming.
André Gelfi, Managing Partner Brazil at Betsson Group, has been elected as President of the new body, which aims to contribute to the ‘discussion and development’ of Brazil’s national fixed odds betting market.
“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,” Gelfi explained, setting out the association’s mission statement.
“We want to help build a safe regulatory environment for customers while financing the public sector, and creating a sustainable operating environment for companies.”
The association has outlined that the experience of its members, which in total operate in over 100 countries, can be leveraged to help build the regulations if required.
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.”
As well as Gelfi’s election to be the President, Rafael Marcondes has been appointed as the legal director of the institute, and he explained that it is vital the sports betting regulation is built in Brazil this year.
He concluded: “The United States and Brazil legalized sports betting in 2018, while in the North American country, regulation has been happening quickly in its various States and bringing positive results, especially when it comes to tax collection, Brazil has fallen behind, allowing the proliferation of companies that are not committed to responsible gaming, which jeopardizes the credibility of the market without providing minimum guarantees to consumers.”