Brazil’s sports betting industry is on the verge of being regulated. Andre Gelfi, recently elected president of the just-created Brazilian Institute of Responsible Gaming (IBJR), says the industry is eager for government oversight.
Gelfi—who is also managing partner of Betsson Group— told Yogonet, “We understand that regulation is fundamental for the market to function in a sustainable way; the current context is unsustainable, and the four lines are missing. It will be a measure that will bring many benefits to the country, generating more revenue with millions in taxes, the economic impact on the formal economy, and the protection of society.”
Brazil’s Minister of Economy recently promised that a measure regulating the sector was forthcoming.
Gelfi told Yogonet: “We want the IBJR to be a reference in the discussion of responsible gambling, promoting events, discussions, and exchange of perspectives, for example, among doctors, psychologists, operators, and the press. Giving visibility to this debate is fruitful. Our role is to facilitate this gathering of perspectives, the identification of problems, and the search for solutions. The Institute has this fundamental role.”
Asked to say what measures he hopes the ministry will adopt to encourage responsible gaming and fight money laundering, Gelfi said, “It is essential that the regulation establishes requirements to curb: money laundering and compulsion, in addition to active collaboration in the manipulation of sports results.”
He noted that the Institute was “created at the request of the Brazilian authorities at the initiative of some of the founders who were already part of the Betting and Gaming Council (BGC), which has been collaborating with the Brazilian authorities for some years in discussions related to the regulation of sports betting.”
