The purpose of the action is to move forward in the discussions for the approval of a regulatory framework, which benefits both operators and players, in addition to boosting the market's economic growth.
The partnership between Pay4Fun and the IBJR aims to raise awareness among the general public, competent authorities and industry experts on the importance of effective regulation of sports betting. The institutions plan to carry out educational actions, awareness campaigns and engage stakeholders to advance in the regulation of this market in Brazil.
Industry regulation day
Currently, the sports betting sector in the country operates without clear and effective regulation, which compromises security and transparency for both bettors and bookmakers.
The lack of appropriate legislation limits the potential for legal expansion of this market, resulting in significant economic losses. In addition, consumers are left unprotected by the lack of legal certainty, similar to those applied to commerce in general.
"The partnership with the IBJR is a significant milestone in boosting the regulation of sports betting in Brazil. We are happy to join a serious organization that shares our values of legality, transparency and responsibility," says Leonardo Baptista, CEO and co-founder of Pay4Fun.
“Our objective is to find effective solutions and contribute to a fair, safe and transparent gaming environment. Together, we will seek to establish a solid regulatory framework that promotes legality, protects players' rights and encourages the sustainable growth of this promising industry in our country," adds Baptista.
"Pay4Fun is a company of great prestige in the sports betting payments sector and identifies with the IBJR's mission of collaborating with society for a regulated, fair, sustainable market that prioritizes sporting integrity and player safety. It was with great joy that we received her as a member of the institute," says André Gelfi, director-president of the IBJR.
Source: Bússola
