The Loteria de la Ciudad, the public entity in charge of regulating sports betting in the city of Buenos Aires, and the International Betting Integrity Association (IBIA), the largest betting integrity monitor of its type in the world, have signed a memorandum of understanding on sports betting integrity. The agreement will contribute to the development of a regulated, transparent, safe and responsible sports betting market and discourage all types of unfair or fraudulent practices and the manipulation of sports competitions in the city of Buenos Aires.
Martin Garcia Santillan and Federico Cattadori, President and Manager of Gaming and Betting Control of Loteria de la Ciudad, proceeded to sign this memorandum with IBIA, which establishes collaboration guidelines for the exchange of technical knowledge and information related to the integrity of sports and betting.
“The IBIA is delighted to have reached an agreement with the Loteria de la Ciudad to work collaboratively to protect sports, consumers and the regulated betting market from match-fixing,” the Chief Executive Officer for the IBIA, Khalid Ali, said. “The association and its members will analyse the betting on their global markets, which cover over $137 billion in sports betting revenue per annum, and work closely with the Loteria de la Ciudad to identify and investigate any suspicious betting activity.”
As highlighted in IBIA’s Q1 integrity report, during the period 2018 to 2022, the association reported nine suspicious betting alerts on Argentinian sporting events, which represents approximately 9% of all the 105 alerts reported in the Latin American region in that period (behind Brazil with 33 alerts, Dominican Republic with eleven and Mexico with eleven).
This alliance is beneficial for Loteria de la Ciudad as the sharing of information on suspicious betting activities will allow feedback on prevention and it will facilitate the improvement of actions to ensure fraud control and prevention. In turn, this comprehensive approach will ensure that actions are taken to mitigate any potential criminal activity.
The IBIA is a globally recognized non-profit organization that seeks to guarantee integrity in the sports betting sector. Its membership includes nearly 50 companies and over 125 leading sports betting brands including companies that operate with a licence in the city of Buenos Aires.
Representing nearly 50% of all regulated commercial online betting activity, the IBIA’s key objective is to fight against corruption in betting in order to protect the integrity of its members, consumers and partners such as sports bodies from fraud caused by the unfair manipulation of sporting events and associated betting.
The signing of this memorandum highlights the policy of Loteria de la Ciudad to strengthen ties with international bodies for the protection of the integrity of sport and sports betting and, in addition, reinforces the commitment to the prevention, surveillance and detection of unfair or fraudulent practices within a regulated, safe and transparent framework.
