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A Look at Sports Betting in South America & India

Published

3 years ago

May 11, 2021

Sports betting is something that continues to gain popularity all over the globe, and it shows no sign of slowing down any time soon. When it comes to sports betting, South America and India have a lot of things in common, while there are also plenty of differences. In this article, we are going to take a closer look at sports betting in South America and India and see which one has more room for growth.

Sports Betting in India

Sports betting has become a method of entertainment for a large percentage of the Indian population, and sports betting sites all over the world are aware of this. Many bookmakers are more than happy to accept players from India now as they know just how big the market is. Those who do not allow Indians to open an account with them are missing out on a large slice of the pie.

The Legal Status of Sports Betting in India

The laws and regulations surrounding online gambling are a bit of a grey matter in India, and this can come as no surprise when the laws that are in action came about when the British were colonizing India. In other words, the Indian government are still making use of gambling laws that came into being before the Internet was even invented.

For the most part, gambling is prohibited throughout India, although it is legal in a couple of states such as Sikkim and Goa. In these two states, you will come across a few land-based casinos. However, when it comes to sports betting, Indians can open an account with a sports betting site so long as they are not based within India. The Indian government are fully aware as to how much money they are losing in taxes, so it is highly likely that at some point soon they will amend the laws and regulations to include online sports betting.

Sports Betting Options in India

According to statistics and estimates, around half a billion Indians have regular access to Internet, while over 400 million watch sporting events and bet on sports. Below we shall look at the popular sports that Indians enjoy betting on.

Cricket

Cricket, without a doubt, is the most popular sport in the country. When people say that cricket is like a religion in India, they are not lying. When the Indian cricket team is playing or if there is an Indian Premier League game being played, the whole country basically stops to follow the events.

As well as watching cricket, Indians love to place bets on it. It has been estimated that Indians wagers $50-60 million on every IPL match. Bookmakers know just how much Indians love cricket betting, which is why the majority will do their utmost to ensure that they have plenty of markets and great odds for all the best cricket competitions such as the IPL, The Ashes, The Big Bash League, the World Cup and ODI and Test matches.

Football

Football is the most popular sport in the world, and it is also very popular in India, although not as popular as cricket. The football competitions that Indian football fans like to focus on are the Indian Super League, the China Super League, and the MLS. They also follow the biggest leagues in Europe such as the Premier League, La Liga, Serie A, and Bundesliga. They also like to watch and bet on the Europa League and the Champions League. Indians love for football betting means that bookmakers offer markets and odds for many lesser leagues around the world.

Horse Racing

Indians love their horse racing and when it comes to popularity it is only behind cricket. While land-based sports betting is prohibited across the country, there is an exception when it comes to betting on horse racing. We do not know why this is the case, but it likely has something to do with the fact that horse racing would probably become obsolete if nobody could bet on it.

Horse racing is a popular sport all over the world, so most bookmakers that Indians can open an account with will have odds and markets for a wide variety of horse racing events.

Sports Betting in South America

Sports betting within South America is very diverse. This is not too much of a surprise since the different countries obviously have different laws and regulations when it comes to sports betting. Below we are going to have a look at sports betting in some of the biggest countries in South America.

Brazil

Brazil is a huge country with a very big population. The people of Brazil have plenty of interests but betting on sports is one that stands out from the crowd. When it comes to the legalities of sports betting, land-based sportsbooks are illegal, which is why black sports betting markets are thriving in Brazil.

Just like with India, online sports betting is a grey area. The current laws and legislation in place do not prohibit online betting, so there are a number of legitimate bookies out there that are happy to accept players from Brazil.

Brazilians enjoy betting on a variety of sport, but the one that stands out in terms of popularity is obviously football. The whole world knows how much Brazilians enjoy this sport. The people of Brazil rarely miss out on an opportunity to place bets on the Copa Libertadores or the Brazilian Championships. Obviously, whenever the Brazilian national team are playing there will be plenty of bets placed too. Other sports that Brazilians enjoy betting on include horse racing, basketball, UFC, and MMA.

Argentina

Sports betting goes back to the 1800s in Argentina. Just like with Brazil, football is the sport that leads the way when it comes to Argentinian sports betting. Why would you not have a passion for football when some of the greatest players to play the game have hailed from your country. We are obviously talking about the likes of Diego Maradona and Lionel Messi here. Other sports that Argentinians enjoy betting on include boxing, tennis, volleyball, and basketball.

The different provinces in Argentina have the authority to regulate sports betting, which means that in some provinces sports betting is legal, while in others it is illegal. Therefore, if you are in Argentina and you want to do some online sports betting, you should check whether it is legal to do so in the province that you are in. Buenos Aires, the country’s capital, was the latest province to allow online sports betting.

Chile

Before 1990, the only sport that Chileans could place bets on was horse racing. However, the government soon realized just how much the people of Chile love to bet on sports and how much money can be made from it, so they eventually came up with regulations and laws for online casinos and sports betting. These regulations state that betting sites must pay 20% taxes on their income from Chilean gamblers. This was put in place to ensure the betting platforms play by the correct rules or run the risk of losing their license.

When it comes to sports betting, it is safe to say that the people of Chile are not too picky about what sport they are putting their money on. However, like with Brazil and Argentina, football is the most popular sport in the country. With regards to sports betting sites, there are no shortage of them out there that are happy to accept players from Chile.

Where is There More Potential for Growth?

We have taken a closer look at sports betting in India and some of South America’s biggest countries, so we are now going to take a quick look at which one has more room for growth.

Legality: In this regard, South America and India have similar unresolved issues. They have outdated regulations and different laws for different states and countries that obviously have a negative impact on the sports betting industry in these regions. Only a couple of state in India and a few countries in South America have legalized gambling.

Large bookies: The markets available are obviously limited by the issues that we just mentioned above, but there are plenty of international bookies that are happy to accept players from India and South American countries. However, when it comes to quantity and quality of bookmakers available, Indians have an advantage over those from South America.

Payment methods: The amount of payment options available is a good level for both India and South America. However, this being said, e-Wallets, credit cards, and cryptocurrency options are more diverse for Indian sports betting fans.

It is clear that India has more room for growth in the sports betting industry, but it is also clear that both South America and India have plenty of issues that need to be resolved so that their people can enjoy the same sports betting experience that many other nationalities experience around the world.

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

5 days ago

April 22, 2024

GamingAmericas.com

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

Published

1 week ago

April 18, 2024

GamingAmericas.com

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Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

Canada

Glitnor Group expands IBIA’s betting integrity presence in Ontario

Published

2 weeks ago

April 10, 2024

Adrienn Sarkany

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Reading Time: 2 minutes

Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.

David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”

Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.