IBIA Releases Spanish and Portuguese Versions of Betting Market Research

The International Betting Integrity Association (IBIA) has unveiled Spanish and Portuguese renditions of its “IBIA Best Betting Market Research.”

The investigation aims to furnish benchmark data and insights into the optimal regulatory frameworks for the global wagering market, and aspires to aid Latin American markets in crafting betting policies. IBIA stated that by translating the research into Spanish and Portuguese, they hope to assist Latin American markets in developing betting regulations. The study encompasses the three existing regulatory models in Latin America: Colombia, Mexico, and Argentina. The organization anticipates that the study will contribute to driving regulation in major prospective markets such as Brazil.

Gambling Capital estimates Latin America to be valued at $1.3 billion. The same report forecasts that it will expand to $3.4 billion by 2025.

Khalid Ali, the head of IBIA, remarked: “The flourishing Latin American sports betting market is a burgeoning focus for IBIA member enterprises. Regrettably, 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 communicated 112 questionable wagering events to officials in 15 Latin American nations and across 4 distinct athletic disciplines.

“We trust this report will aid policymakers, sports and wagering operators in Latin America in addressing dangers to sports honesty and creating effective gambling regulatory frameworks. Integrity has been central to conversations in the North American wagering market, with the recent release of Ontario’s integrity standards being viewed as a model for best practices; the IBIA hopes to see this focus and strategy replicated across Latin America and beyond.”

These three Latin American markets are featured in the IBIA and H2’s market evaluation and ranking. The report examines and ranks a total of 20 markets.

Argentina is ranked 18th, receiving a provisional score due to anticipated regulatory adjustments. The market in Argentina is diverse in terms of tax rates and specific regulations, but both the City and Province of Buenos Aires have issued licenses, establishing the foundation for further growth throughout the country.

Mexico is ranked 15th. The report states that outdated legislation in the nation hinders future growth, but this setback and others are offset by the opportunity for unlimited licenses.

Meanwhile, Colombia shares the 10th position with Germany. It was the first Latin American nation to regulate online gambling, giving it an advantage over regional competitors.

Colombias GGR tax rate sits at 15%, which propels its standing, but its score cannot surpass this point due to the absence of formal integrity procedures.

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