In June this year, the International Betting Integrity Association (IBIA) has released the Optimum Betting Market study. This first-of-a-kind whitepaper assessed the regulation of betting in 20 different jurisdictions across six continents.
Optimum Betting Market Study Is Now Available in Portuguese and Spanish
IBIA announced earlier today that it had released Spanish and Portuguese translations of the Optimum Betting Market study. IBIA’s CEO, Khalid Ali, outlined that the flourishing sports betting markets in Latin America are an “important focus for IBIA members’ business operations.” Moreover, he added that unfortunately, there are corrupt schemes that are seeking to manipulate sports betting. This, according to Ali, results in losses for betting operators. Additionally, he acknowledged that IBIA has flagged 112 cases of suspicious betting between 2017 and the end of the third quarter of 2021. Ali explained that those cases were flagged in 15 Latin American countries across 4 different sports.
“It is hoped that this report will provide some assistance to Latin American policymakers, sports and betting operators in responding to the threat to the integrity of sport and to developing effective betting regulation.”Khalid Ali, CEO of IBIA
The Association’s CEO said he hopes that this report will help Latin American policymakers to better respond to integrity threats in sports. He stressed that the policymakers would also need to develop effective betting regulation that reduces such threats. Ali added that integrity has been a part of the betting operations in North America and “the integrity standards recently published by Ontario seen as a best practice model.” Last but not least, he said that IBIA hopes to see such focus and approach on the Latin American market and beyond.
The Whitepaper Provides Insights on Regulatory Sports Betting Models
The whitepaper reveals a unique approach to regulatory sports betting models, outlining the best practices around the world. Overall, IBIA’s report has analyzed market integrity data covering some $137 billion (€115 billion) in betting turnover annually.
Focusing on Latin America, based on the report, H2 Gambling Capital valued the betting market at $1.3 billion (€1.1 billion) in a gross win for 2020. However, projections show significant growth to $3.4 billion (€2.9 billion) by 2025.
The report conducted a five-step assessment of 20 markets. That assessment includes regulation, taxation, integrity, product, and advertising. Based on those criteria, the whitepaper scored the markets. Not unexpectedly, Great Britain ranked first with 91 points, followed by Malta with 88 points. After that, the report placed Denmark with 86 points, followed by Nevada, the USA with 85. On the other hand, the well-regulated market in Sweden received 83 points, ranking 5th.
Looking at Latin American countries Colombia shared 10th place with Germany. Both countries scored 76 points, according to the study. On the other hand, the market assessment of Mexico placed the country in 15th place with a score of 70, followed by Argentina that ranked 18th out of 20 jurisdictions with a score of 61.