Last updated on November 6th, 2024
The Ministry of Finance in Brazil has signed a historic Technical Cooperation Agreement (ACT) via the Secretariat of Prizes and Betting (SPA) with four integrity and monitoring organizations in the sports betting sector.
This includes the following organizations: the International Betting Integrity Association (IBIA), Genius Sports, SportRadar, and Sport Integrity Global Alliance (Siga and Siga Latin America).
By making these partnerships official, the Secretariat Prizes and Betting further strengthens the security net focused on combating and preventing the manipulation of sports outcomes in Brazil via betting.
Regis Dudena, the Secretary of Prizes and Bets of the Ministry of Finance commented that these four organizations enjoy a global reputation for monitoring this sector and more importantly, operating in countries such as England, Canada, and Australia, highlighting their expertize in identifying suspicious betting schemes, and helping to identify and contain attempts to manipulate outcomes.
Moreover, these organizations will provide crucial information to SPA on the betting market based on the signatures of the ACT.
This historic partnership in Brazil also facilitates the way for assisting in the qualification of the teams of SPA, with plans of training those same teams that are responsible for monitoring the actions in the sports betting sector.
Regis Dudena said:
They will train us so that we can identify possible cases of manipulation and related fraud; in addition to sharing information. It is a two-way street.
It is important to mention that there will be no transfers of payments or resources from either party in the formation of these partnerships. This is because the focus of this initiative is to improve the security of the system as a whole and, with that, protect society, sports, and betting markets.
Furthermore, Dudena highlights that this network was created with the goal of protecting athletes, bettors, fixed-odds betting operators, and teams from fraudulent activities and malicious actions.
Dudena further commented:
We can and should share the information so that all operators can be aware of suspicious cases. The SPA is open to talking to other organizations that work on betting integrity.
The newly forged agreements will be valid for 60 months or 5 years, with the potential of new and similar mechanisms further established in the future.
