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The City of Buenos Aires has made a big step toward boosting sports betting integrity thanks to the International Betting Integrity Association (IBIA), the largest monitor of betting integrity in the world. The organization and Lotera de la Ciudad, the city’s regulatory agency in charge of regulating sports betting, recently signed a Memorandum of Understanding (MOU).
Federico Cattadori, Manager of Gaming and Betting Control, and Martn Garcillán, President of Lotera de la Ciudad, both signed the MOU. In order to encourage responsible betting habits and fight fraud and match manipulation, the regulatory body and the IBIA will cooperate together under the terms of this agreement.
This partnership’s main objective is to raise ethical standards in Buenos Aires while aggressively preventing illegal activity in the sports betting industry. Both sides shall communicate technical information and data pertaining to the industry’s integrity in order to accomplish this.
Given the crucial role that information plays in preventing and detecting fraudulent actions, Lotera de la Ciudad stands to gain considerably from this partnership. The IBIA brings a wealth of knowledge to the table, and its track record of keeping tabs on international markets—which see over $137 billion in sports betting income annually—will be crucial in spotting and looking into shady betting trends.
IBIA CEO Khalid Ali stated his delight for the collaboration and reaffirmed the organization’s dedication to protecting sporting events, customers, and betting operators against dishonesty and match-fixing. In order to address any unsettling betting tendencies, the IBIA and its members will carefully examine betting activity in their respective international markets. They will also work closely with Lotera de la Ciudad.
The MOU highlights Lotera de la Ciudad’s commitment to a successful fight against fraud. Notably, the IBIA recorded nine suspect betting warnings involving Argentine athletic events between 2018 and 2022, making about 9% of all such complaints from Latin America during that time.
The IBIA is a global non-profit organization whose goal is to stop betting industry fraud. The IBIA, which has approximately 125 sports betting brands as members and close to 50 gaming enterprises, including those with licenses from the City of Buenos Aires, accounts for a sizeable share of regulated commercial betting activity globally.
With a focus on the continent of Latin America, this cooperation has promoted the IBIA’s objective of fostering integrity within the sports betting industry. To protect the industry from unethical tactics, the association has lately accepted new LATAM-based members and has continued to expand its network.