Galera.bet Meets Regulatory Requirements by Joining the IBIA
LISTEN TO THIS ARTICLE:Galera.bet, the Brazilian sports betting operator, has announced it has become a member of the International Betting Integrity Association (IBIA).
The IBIA is an organization comprising gaming industry stakeholders and monitors betting on sporting events to ensure integrity. By joining the IBIA, Galera.bet is fulfilling a regulatory requirement for gaming operators laid out by the Brazilian regulators.
Related: IBIA Integrity Report for second quarter exposes suspicious betting
The IBIA has only recently entered the Brazilian jurisdiction and launched in the country earlier this year. The organization is made up of about 50 companies representing more than 120 gaming brands.
We welcome galera.bet’s decision to join IBIA which further strengthens IBIA’s
position ahead of the Brazilian market opening. It recognises the unique benefits of IBIA’s operator-run integrity monitoring network and its ability to track members’ individual consumer transactional activity, rather than just analysing simple odds movements. No other sports integrity solution provides access to this data which covers over US$137bn in annual betting turnover, making IBIA the largest and most effective integrity network of its kind globally.
Brazilian Governments Provisional Measure
The Brazilian government is keen to promote integrity in sports betting and in July published its Provisional Measure document, setting out regulatory guidelines regarding the gambling industry.
One of the regulations in the Provisional Measure is the requirement by sports betting operators to become a member of an international body for monitoring sports integrity.
As a market leader in the global betting monitoring industry, the IBIA is one of the most popular choices for operators in Brazil and is estimated to represent 60% of the Brazilian market.
We are honoured to work with IBIA and to be able to reinforce our purpose of developing business with integrity as our priority. We believe that collaboration between partners is extremely important to protecting the integrity of sport and betting markets from corruption. We hope this is the beginning of a long and successful partnership.
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