IBIA said the expansion was happening due to the imminent government regulation of sports betting in Brazil, the growth of the sports betting market and past instances of match-fixing in the country.
It added that according to H2 Gambling Capital, 60% of the remote gambling market in Brazil is made up of IBIA members.
Khalid Ali, CEO of IBIA, said that the body is looking forward to expanding its reach in Brazil.
“We welcome the Brazilian government’s decision to regulate the sports betting industry as an overwhelmingly positive move,” said Ali. “IBIA looks forward to working with policymakers to ensure Brazil enjoys the full benefits of a dynamic and competitive sports betting market, whilst reducing the risks of match-fixing.”
