## A New Group for Responsible Gaming Emerges in Brazil – iGB
Numerous sports wagering companies have joined hands to establish a fresh responsible gaming organization in Brazil as part of the nation’s gambling regulation drive.
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Operators Create New Responsible Gaming Group in Brazil
Bet365, Flutter Entertainment, Entain, Betsson Group, Betway Group, Yolo Group, Netbet Group, KTO Group and Rei do Pitaco are the founding members of the Brazilian Institute for Responsible Gambling (IBJR).
The organization will focus on various areas to comprehend the industry and how it can be incorporated into the Brazilian economy.
Even though the Brazilian legislature voted to legalize sports betting in 2018, the country’s sports betting regulatory process is still underway. However, a recent string of match-fixing scandals has sparked new optimism that a legal path may be near.
“We aim to assist in building a secure regulatory environment that benefits customers, while providing funds for the public sector and creating a sustainable operating environment for businesses,” stated André Gelfi, Executive Partner of Betsson Group Brazil, who was elected president of the IBJR.
“The theme of responsibility is evident in the name of the institution precisely because this is the driving force behind the actions of all parties involved in a successful regulated market.”
In these locations, wagering on sporting events is viewed as a form of amusement and contributes to preserving the integrity of athletic competitions.
A Brazilian legal specialist, Rafael Marcondes, highlights the significance of regulation for the advancement of the sports betting sector in Brazil. He underscores that while the United States and Brazil legalized sports betting in 2018, Brazil’s regulatory progress has trailed behind that of the US, resulting in a proliferation of irresponsible betting firms that have eroded market trustworthiness and failed to provide sufficient consumer safeguards.
“It is evident that delicate aspects of the industry, such as compulsive gambling and financial impropriety, must be addressed in a robust, rational, and accountable manner.”
Marcondes believes that Brazil can draw upon the successful regulatory experiences of other nations and apply them to local conditions to construct a successful regulatory framework that serves as a global exemplar.
The Significance of Regulation
IBJR is the most recent industry organization in Brazil, with the objective of fostering the wholesome development of the sports betting sector. Earlier this month, Brazil also established a new non-profit sports integrity organization, the Brazilian Sports Integrity Defense Association (Abradie), dedicated to upholding the fairness and impartiality of sports.
A collective of businesses, including Genius Sports, Entain, Rei do Pitaco (a daily fantasy sports operator), and legal firms Bichara e Motta and Maia Yoshiyasu Advogados, established the association.
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