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IBIA welcomes historic vote of Brazilian sports betting law
IBIA welcomes the adoption of the sports betting law by the Brazilian Chamber of Deputies. The law introduces an effective regulatory and licensing system for operators in Brazil for both sports betting and online casinos. It also includes a range of integrity measures to strengthen the fight against sports betting related match-fixing.
The law includes a requirement that sports betting operators are part of an international monitoring body; a provision that will help to ensure proper mechanisms are put in place to help protect operators, their customers, as well as sports, from potential fraud and manipulation. In addition, the ability for betting operators to suspend payments of bets for matches that are under investigation for potential corruption is important in protecting operators and deterring sports betting related fraud.
Khalid Ali, CEO of IBIA, said: ‘This is an historic moment for sports betting in Brazil and is a major step forward in the fight against match-fixing. IBIA welcomes the adoption of specific betting integrity provisions in the law, which the association has been campaigning for since discussions on regulating sports betting began in 2018. A number of Brazilian market focused operators have already joined IBIA, and we look forward to engaging with other operators intent on offering well-protected sports betting products to Brazilian consumers via IBIA’s world leading integrity network.’
IBIA is run by operators for operators, with its monitoring and alert network harnessing the collective resources and expertise of many of the world’s largest regulated sports betting companies. It monitors approximately US$150bn in betting transactions on approximately 650,000 competitive sporting events globally, making it the largest monitor of its type in the world.
According to H2 Gambling Capital – the leading independent authority on global gambling market data – IBIA members already account for over 60% of the remote gambling market in Brazil.
IBIA’s international monitoring and alert network will provide accurate and detailed intelligence on suspicious betting activity on Brazilian sport to betting regulators, law enforcement and sports governing bodies.
Khalid Ali stated: “Although the new law is a very important milestone in the fight against match-fixing, there is no room for complacency. We are committed to working more closely and sharing our expertise with the Brazilian regulatory authorities on the implementing regulation on integrity, as well as with sports and law enforcement to ensure we more effectively detect, deter and sanction sports betting related match-fixing and fraud.”
Opening markets to licensed sports betting operators is key to protecting consumers and the integrity of sporting competitions from sports betting related match-fixing. Regulated sports betting markets channel consumers away from the unregulated markets where most of the issues with match-fixing and corruption arise.
Khalid Ali continued: “By opening-up the market to licensed sports betting operators Brazil is sending a very important message to other markets in Latin America that a dynamic and competitive regulated sports betting framework with strong integrity provisions is essential to the fight against sports betting related match-fixing.”
Sports betting exists within a highly competitive international market and an overly burdensome framework of regulation and taxation will have the counterproductive, and unintended, consequence of driving sports betting customers into unregulated markets, reducing tax revenues and increasing the risk of corruption and match fixing.
Therefore, whilst IBIA welcomes the fact that the Chamber of Deputies has resisted the temptation to impose higher levels of gambling taxation, the impact of the overall tax burden and the substantial cost of the licencing fee, which remains BRL 30m, may deter investments in Brazil.
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Gate.io and AWS’s ‘Gateway to Championships’ Brings Blockchain to the Forefront with FC Internazionale Milano Partnership
The event also brought together industry leaders, sports icons, and blockchain innovators for an evening that not only celebrated technological advancements but also paved the way for a historic and transformative partnership in blockchain and sports.
Panel discussions, moderated by Kristen Lim, Co-Founder and CEO of Rockrose, explored the profound impacts of blockchain technology on the global market. Thought leaders provided insights into the evolving landscape of Web3 and contributed their expertise, highlighting the transformative potential of blockchain across various sectors. Together, they examined key trends, challenges, and opportunities shaping the future of Web3.
VIP Dinner, Networking, and Celebrations
The event concluded with a VIP dinner and networking session, where attendees connected with industry and sports luminaries against the backdrop of a live DJ, creating an atmosphere of celebration and collaboration.
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Additionally, Gate.io organized SOCCER2050, a separate football match highlighting its commitment to the sport and the community. The event was co-hosted with LTP on September 17 in Singapore, where several teams faced off in friendly football matches following a ribbon-cutting ceremony with Dr. Lin Han and representatives from LTP, Huawei Cloud, and Zodia Custody. This event further cemented Gate.io’s presence in the football world, fostering camaraderie and engagement among participants.
Disclaimer
This is a private event for professional knowledge sharing and networking purpose only. You should always seek independent professional advice before making any investment decisions. The products and/or services mentioned herein are only available to persons outside Singapore. Please be noted that Gate Group may restrict or prohibit the use of all or a portion of the Services from restricted locations. For more information, please read the applicable user agreements.
The post Gate.io and AWS’s ‘Gateway to Championships’ Brings Blockchain to the Forefront with FC Internazionale Milano Partnership appeared first on European Gaming Industry News.
Aristocrat Gaming
Record Progressive Jackpot at Over $2 Million and Climbing Up for Grabs at Seminole Hard Rock Hotel & Casino Hollywood
A record progressive jackpot of more than $2 million continues to climb on a $1 million Dragon Link slot machine by Aristocrat Gaming. The huge jackpot is up for grabs at Seminole Hard Rock Hotel & Casino Hollywood.
The $1 denomination Dragon Link slot is a single-site progressive (SSP) and is located in the high-limit slots area of the Hollywood casino, famous through the world for its iconic Guitar Hotel. The slot machine’s progressive jackpot increases independently from other Dragon Link slots at the Seminole Hard Rock Hotel & Casino Hollywood and elsewhere.
The jackpot is climbing by an average of $7,000 per day and is on track to become one of the largest slot machine payouts in Seminole Gaming history and the largest Dragon Link jackpot ever awarded. Players at Seminole Hard Rock Hollywood have a chance to be a part of jackpot history.
“It’s exciting to witness the Dragon Link jackpot grow to an unprecedented amount. The game has been a favorite since its release, and with this amazing prize now up for grabs, our players have the potential for a huge win,” said David Hoenemeyer, Chief Operating Officer of Seminole Gaming.
“We are incredibly proud of the fanfare Dragon Link has amassed over the years, and this historic milestone reinforces player excitement for the brand. The Seminole Hard Rock Hollywood team have been incredible partners and huge supporters of our $1 million Dragon Link offering. We can’t wait to be a part of the celebration of this record-breaking jackpot,” said Kurt Gissane, Chief Revenue Officer for Aristocrat Gaming.
Since its debut at Seminole Hard Rock Hollywood in June 2021, Dragon Link has consistently drawn in players with its exciting high-denomination offering, which includes a $25 minimum bet and a $2,500 max bet. The casino-resort was the first in the world to feature the $1 million Dragon Link progressive, and today, it remains one of the most popular high-limit slot games available.
The impact of Dragon Link on the gaming landscape has been immense, cementing its status as a player favorite. While Aristocrat Gaming continues to push boundaries with innovative offerings, the latest jackpot at Seminole Hard Rock Hollywood represents a new milestone in gaming entertainment.
Xpoint has announced two key appointments as it strengthens its leadership team.
Chris Chapman has been promoted to Chief Technology Officer and Rahul Agrawal has joined as VP of Engineering.
Chapman previously served as VP of Engineering at Xpoint and has been pivotal in leading the company’s engineering efforts, advancing its geolocation technology and ensuring the platform’s reliability and scalability. Prior to joining Xpoint, he held senior leadership positions at companies such as Sourcepoint, Integral Ad Science and Amino Payments, which he founded. In his new role, he will focus on driving innovation and ensuring that Xpoint remains at the forefront of geolocation and compliance solutions in the iGaming sector.
Agrawal brings over 25 years of experience in technology leadership, most recently serving as VP of Technology at PointsBet, where he advanced the development of the sportsbook and casino platform, built a global engineering team and integrated multiple technology partners, including geolocation providers.
His extensive background also includes being CTO at FaceOff and senior technology roles at Jump Ramp Games and High 5 Games. He will lead the Xpoint engineering team, focusing on operational excellence and the continued development of the supplier’s geolocation technology.
Manu Gambhir, CEO of Xpoint, said: “We are excited to promote Chris to CTO and welcome Rahul as our VP of Engineering.
“Chris has been an integral part of Xpoint’s success and his promotion to CTO is a natural progression as we continue to evolve. Rahul’s extensive experience in building and scaling technology platforms will complement Chris’s leadership and together, their expertise will drive the next phase of innovation for Xpoint as we continue to lead the geolocation and compliance space in the iGaming industry.”
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