IBIA Releases Result of Ideal Betting Regulations. Great Britain, Malta, and Denmark were stated to have the best regulations. (Photo by Kvnga on Unsplash)
The IBIA, also known as the International Betting Integrity Association, released the results of a study on Wednesday.
This study is the first of its type that was carried out by H2 Gambling Capital. The study evaluated the regulations of betting in 20 jurisdictions spread across six continents and covered numerous licensing models.
H2 was tasked with the role of evaluating the weaknesses and strengths of numerous regulatory betting frameworks around the globe. The effectiveness of the betting product restrictions was also considered, alongside the cost of match-fixing to the globally regulated betting industry.
The report, which went by the title: “An Optimum Betting Market: A Regulatory, Fiscal & Integrity Assessment” comprised:
- A jurisdictional ranking which utilized five vital criteria for assessment, including taxation, integrity, regulation, and advertising. Here, India had the lowest, while Malta, UK gambling, and Denmark had the highest.
- An optimal betting market solution which was represented by ten regulatory pillars
- Key findings attained from the data of operators covering betting turnover amounting to $137bn.
- An assessment of match-fixing and betting product costs based on evidence
- Integrity risk consideration. No problem of corruption pointed out in 99.96% of markets
- A data-oriented evaluation that revealed a $25million yearly match-fixing cost to the regulated sector.
The study consisted of elaborate integrity and fiscal data from many top regulated betting operators around the world. This made up almost 50% of the global commercial online betting. These operators tap into the biggest customer account-based integrity structure in the globe via the IBIA. In addition to these, some other project partners included in the study were BOS, BGC, NOGA, and Jdigital.
Statement from the Director of H2
The Director of H2, David Henwood, had something to say:
He noted that their evaluation of the numerous regulatory models used around the globe has helped in determining the core factors that have a higher possibility of generating a well-regulated and successful betting market. These key factors include Competitive GGR tax, unlimited licensing, broad product offering, GGR tax, balanced advertising parameters, and integrity provisions.
He concluded by stating that the integrity assessment and their betting product were based on the most elaborate and in-depth collection of market data that has ever been gathered. As a result, the findings of the report were enlightening and unique.
Statement from IBIA’s CEO
The CEO of IBIA, Khalid Ali, also had the following to add:
The study, alongside the information contained, can be justified as extraordinary. H2 has carried out an extensive analysis of product data which covered a turnover of $137bn, alongside market data of its own. The outcome is a report that offers an insight that has never been seen before into the integrity risks, global consumer demand, and regulatory practices. As a result, it has revealed the core areas of an ideal betting regulatory framework.
IBIA hopes that the findings which are evidence-based will aid the ongoing debate on global betting and integrity.
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