Regulation of the sports betting sector must have as one of its main objectives the prevention of financial crimes and the fight against corruption. It is necessary to target the use of betting for money laundering, with the development of inspection mechanisms. And all of this is aimed at protecting the credibility and integrity of the sport, which are threatened by fraud and attempted manipulation.
The evaluations are by Alan Bitar Prado, a Compliance specialist from the University of Central Florida, Daniela Castro, executive director of Pacto pelo Esporte, and Ian Cook, general director of StoneTurn. They debated the regulation of sports betting during the “8º Seminário Caminhos contra a Corrupção” (Paths against Corruption), held by the Instituto Não Aceito Corrupção in partnership with Estadão.
According to experts, the regulation of sports betting is already late and delayed, which can be proven by Operation Maximum Penalty, which investigates the manipulation of game results. They suggest urgent debate amid a series of challenges and even risks to the sport itself, but also with the prospect of improving the segment.
Castro, Bitar Prado and Cook highlighted how the discussion on the regulation of sports betting touches on a series of measures and concerns, from taxation to addiction prevention. On the other hand, they emphasize that a central topic of the debate is the credibility of the sport, threatened by manipulations.
According to Castro, regulations must cover all mechanisms to prevent sports crimes, considering that fraud can destroy their reputation, impacting not only the business of betting houses and sports entities, but the population in general. “The theme of integrity is fundamental,” she emphasizes.
In the same vein, Bitar Prado pointed out how unpredictability is the key to the sport: “Otherwise all the fun goes away,” he stated, addressing ways to avoid and combat game manipulation.
Cook explained the problem in a systemic way. He indicated that there is a "healthy side" of betting, but remembering that, as this context is transformed into an industry, great care must be taken regarding the impact of this dynamic on sport.
Experts agree on the urgency of regulation. Alan highlighted that today “you have the game but not the rules”, hence the need for them to be established. Still according to the lawyer, regulation results in “improvements and opportunities.”
According to Ian, the delay in regulation also impacts the investigation of cases of betting manipulation. The expert highlights how bookmakers hire monitoring services, receiving intelligence data and monitoring user behavior.
He highlights how this information is essential for investigations and must be handed over to the authorities, but given the lack of regulation, there is a 'gap' in this sharing. “There is no single person responsible for preventing manipulation,” he noted.
Daniela noted that it is necessary to look at the issue of sports betting in a systemic way, with improved governance of sports entities.
According to the lawyer, when there is fragility in such governance, the danger of manipulation increases. The need to educate athletes so that they do not become involved in fraud was also highlighted.
Source: Estadao
