Yolo Group joins the IBIA ahead of Brazilian market going live
Crypto-first operator links up with industry body to provide insight into global integrity monitoring framework
Yolo Group has become the latest operator to join the International Betting Integrity Association (IBIA) ahead of its planned expansion into Brazil
Under the remit of the new partnership, Yolo Group will join a host of other firms that feed into the IBIA’s global integrity monitoring network.
This move comes ahead of the anticipated opening of the Brazilian sports betting market, which stipulates operators work with an integrity-monitoring body as part of the Latam nation’s licence conditions.
Brazil did account for the highest amount of suspicious betting alerts to the IBIA, as recorded in its annual report published at the beginning of February.
All of these alerts involved football bets placed over the course of 2023.
According to IBIA’s independent data partner H2 Gambling Capital, the association’s membership already account for over 60% of remote gambling in Brazil, making the IBIA “uniquely placed” to protect the integrity of the market.
Matthew D’Emanuele, CEO of Yolo Entertainment at Yolo Group, commented: “We take our betting integrity incredibly seriously at Yolo Group, and that’s why joining the IBIA is such an important step for us.
“Our industry relies on safeguarding sporting competition, and we’ll be working closely with the IBIA to provide all the support we can to help provide a fun, fast and fair environment for sports betting.”
Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Yolo Group to the association. Yolo Group’s decision to join IBIA demonstrates the company’s desire to utilise the best integrity protection available globally for its sports betting product and further expands IBIA’s leading integrity monitoring network.
“The association looks forward to working closely with the operator to protect it from corrupt betting activity both on a global stage and in relation to specific markets such as Brazil.”
Brazilian president Luiz Inácio Lula da Silva approved Law 14,790 on 29 December 2023, which gave the green light to regulate sports betting and igaming in the country.
At the beginning of February, the Ministry of Finance unveiled new prizes and a betting secretariat division, which will serve as a regulator for the Brazilian sports betting market.
The Ministry of Finance is also in the process of issuing the final regulatory decrees for the sector to be formally regulated.