The Global Betting Integrity Association (IBIA) has unveiled Spanish and Portuguese translations of their ‘IBIA Best Betting Market Research’.
The study aims to offer comparative data and understandings into the most effective regulatory frameworks for the worldwide betting industry.
IBIA stated they hope to aid Latin American markets in establishing betting policies by translating the research into Spanish and Portuguese. The investigation examines the three existing regulatory frameworks in Latin America: Colombia, Mexico, and Argentina. The organization hopes the research will assist in driving regulation in significant potential markets such as Brazil.
H2 Gambling Capital estimates Latin America’s value at $1.3 billion. The same report predicts it will expand to $3.4 billion by 2025.
Khalid Ali, head of IBIA, stated: “The expanding Latin American sports betting market is an increasingly significant focus for IBIA member business operations. Sadly, it is also a target for corrupt individuals seeking to manipulate sporting events to deceive betting operators.”
Indeed, from 2017 to the conclusion of the third quarter of 2021, the IBIA reported 112 questionable wagering occurrences to authorities in 15 Latin American nations and four different athletic disciplines.
“We trust this analysis will offer some direction for policy makers, athletic and gambling operators in Latin America to address dangers to sporting honesty and create effective wagering regulatory structures. Integrity has been a central topic in discussions about the North American betting marketplace, and Ontario’s recently unveiled integrity standards are perceived as a model of best practice; IBIA hopes to see this emphasis and approach mirrored throughout Latin America and beyond.”
These three Latin American markets are included in the IBIA and H2 market evaluation and ranking. The document examines and ranks a total of 20 markets.
Argentina is ranked 18th, receiving a tentative score due to anticipated regulatory modifications. The market in Argentina varies in terms of tax rates and specific rules, but licenses have been issued in Buenos Aires City and Province, setting the stage for further expansion nationwide.
Mexico is ranked 15th. The report notes that the country’s outmoded legislation is hindering future growth, but this setback and others are offset by the opportunity for unlimited licenses.
Meanwhile, Colombia is tied for 10th place with Germany. It was the first Latin American nation to regulate online gambling, giving it an advantage over regional rivals.
Colombias standing advanced due to the fifteen percent wagering levy, however, the absence of proper honesty procedures hindered it from achieving a superior score.
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