The Global Betting Integrity Association (GBIA) has declared that KTO, a sports wagering brand, has become a member of their organization.
KTO, established in 2018, presently operates in Brazil and Peru, with plans to extend its reach into Chile.
Owing to new regulations in Brazil, KTO is obligated to be a part of an international organization that oversees sports integrity. Joining the GBIA satisfies this requirement, ensuring adherence to Brazil’s new gambling laws.
KTO joins the GBIA network, which comprises nearly 50 companies and 125 sports wagering brands.
Jeff Tabone, Managing Director of KTO, stated: “This is a step toward upholding the highest standards of honesty in sports betting. Trust is a fundamental value of KTO. Joining the GBIA demonstrates our commitment to creating a secure and transparent environment for our patrons and the industry.”
Khalid Ali, Chief Executive Officer of the GBIA, added: “KTO is the most recent operator to select the GBIA as their integrity partner in Brazil and worldwide. This expands the GBIA’s presence in Latin America, particularly in Brazil.
“We anticipate collaborating with KTO and appreciate their dedication to safeguarding their sports betting operations.”
Brazil is taking a tough stance on sports wagering.
The nation just introduced new regulations to control the industry, including a mandate for betting firms to join a global organization that monitors the honesty of sports.
This new policy, which was signed into law by President Lula da Silva, is a part of a 2018 law that is finally being put into practice.
One of the first companies to comply with the new rules is Galera.bet, which joined the International Betting Integrity Association (IBIA) last week.
The IBIA, which expanded its reach into Brazil earlier this year, is collaborating with the Brazilian Institute for Responsible Gaming (IBJR) to ensure fair play.