With Brazil in the TOP 10 in the world ranking of access to sports betting sites and with the publication of Provisional Measure (PM) 1.182/2023 by the government regulating the activity, the issue of compliance, always defended by market players, gains reinforcement with the cases and guidance from business intelligence company Neoway.
A platform that offers solutions that transform information into knowledge and generate productivity and precision for marketing strategies, compliance, risks and other activities, Neoway has been dedicated to indicating paths also in the sports betting segment and in particular for payment method companies that work for the sector.
This Wednesday (26th), in the second episode of the videocast “Fala, Compliance!”, Neoway's compliance director, Luciana Silveira, discusses compliance in the sports betting sector with the legal and compliance director of São Paulo Futebol Clube, Roberto Armelin, and specialist in the sports betting sector, Simone Trevisani.
When welcoming the participants of the videocast, Luciana pointed out that, especially after the outbreak of the Maximum Penalty Operation, the issue of compliance began to gain more notoriety. “The magnitude of this market surprised me and awakened me what could be done from a compliance point of view to prevent risks,” she introduced.
Simone Trevisani, an expert on the subject for the betting sector, highlighted that today Brazil has more than two thousand brands of bookmakers and was in 2022 among the TOP 10 in the ranking of countries that most access websites in the sector and that this requires a lot of actions to ensure that bettors have the necessary security. Ultimately, for her, the compliance adopted by sportsbooks is fundamental to this.
Roberto Armelin, legal and compliance director at São Paulo Futebol Clube, was categorical in saying that Brazil needs to regulate the activity, since “gambling exists not only in the sports betting vertical. The State needs to decide if it wants to organize, regulate and tax or if it is going to continue looking like an ostrich, burying its head in a hole and pretending that the game does not exist.”
Regarding regulation, Simone said that regulation is fundamental for the government to collect taxes on the activity. “Last year, betting companies invested BRL 3.5 billion in advertisements alone.”
Armelin said the lack of regulation creates space for some to do as they please. “The challenge for clubs is to regulate themselves while not being 100% regulated, guiding people. We do this in São Paulo and other clubs are adopting the same.”
“We don't want any suspicion of a possible manipulation of results and, therefore, we have been working hard to guide our entire community and working to curb the practice,” highlighted Armelin.
Simone recalled that serious companies work under license from regulators who have very strict rules. “Companies use the compliance process, including in their operations in the Brazilian market, which is not yet regulated, since if they do not comply with such practices, they may lose their licenses.”
Source: GMB
