Brazil Misses Out on World-Cup Betting. What’s India’s Wager?

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The most nail-biting game in the gambling world right now is Brazil: Will President-elect Luiz Inacio Lula da Silva end the country’s decades-long ban on gambling? If it does, Brazil could become the world’s second largest gambling country by number of machines behind the United States.

Or so says Martin Storm, CEO of BMM Testlabs. BMM and its rival Gaming Laboratories International (or GLI) test more than 80% of gambling products worldwide, helping to keep the industry straight. However, Storm did not speak to us from Sao Paulo or Rio de Janeiro, which is losing an estimated 3 billion reais ($560 million) by failing to enact sports-betting laws in time for this year’s FIFA World Cup.

We caught up with the Melbourne native over Zoom in India. An Australian at the top of global gambling is no surprise: a country with less than half the world’s population has 20% of its slot machines. But 3 of the 29 states allow casinos; Historically, most of the real markets for betting on cricket matches have been underground, so what is Storm doing?

Storm has to add a little “Made in India” to accredited regulators before allowing consumers near a slot machine or online game. This is what drives the testing market, in addition to casino operators’ checks. “There’s nothing worse in the market than players losing confidence,” Storm said. About 120 of the 474 regulated gambling jurisdictions have unique requirements. Taxes make it a high-stakes sport. “No one is more addicted to gambling than governments,” he added.

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However, only a handful of jurisdictions have private laboratories. Most rely on BMM and US-based GLI, which sometimes require 100 submissions before approving a product. It is the people and expertise that has taken India by storm. Aristocrat Leisure Ltd. Aristocrat Leisure Ltd., the Australian company and creator of hits like Queen of the Nile. It helps to stay close to the suburbs of New Delhi, where it opens its 14th facility worldwide. We want to hire between 500 and 1000 employees in India to serve the global market.

The producer and the inspector seem to be the same: a slice of India’s 5-million-strong outsourcing talent pool. The computer code running the game must be scrutinized for elements of predictability behind the promise of randomness. Win rates must be analyzed to ensure results are not rigged. It was simpler in the old days, when one-armed robbers sat in the casino hall or local pub. Being online brings its own challenges; Because when evaluating operators like any other financial institution deals with money and data.

Hackers exploit any vulnerability to break into a financial institution’s databases and spoil the game. Although many attacks are not reported, online casinos have long been targets. From banks to oil pipelines; Keeping an incident a secret is a knee-jerk reaction from victims of shame or reputational damage. For gambling websites; That threat is even more serious. Gamblers want to know they are playing a fair game, and the hint that something is amiss may lead them elsewhere. So sites keep breaches quiet.

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Despite intense scrutiny of how physical machines and online casinos operate inside them. A major disadvantage is the lack of network security standards. Software and hardware can be secure and fairly functional, but that doesn’t mean malicious actors can’t get in and cause problems.

In 2019, a group of hackers targeted gambling companies in Southeast Asia and security companies in Europe and the Middle East, including Talent-Jump Technologies Inc. and Trend Micro Inc. According to the Taipei-based teams of security companies in Databases and source code. Researchers believe the motive was cyber-espionage. By accessing the underlying code; An understanding group is, in theory, can understand the algorithms of profit and loss calculation; You can create strategies to beat the casino; Or that information can simply be sold on the darkweb.

Countries have a culture of deep responsiveness to games of chance. The founder of modern Singapore, Lee Kuan Yew, was against casinos because his father had a gambling problem. But in the 2000s, the Asian financial center decided to add a lot of tax to its kitty by allowing two integrated resorts to entertain its nightlife. Brazil’s outgoing president Jair Bolsanoro has gone cold on pending sports betting regulation because he doesn’t want to lose the evangelical vote. Lula is not a fan of gambling. But after promising a fiscally responsible government. They are often fraught with social costs, but they are loath to lose budget resources that seem free. Betting websites assume a law: they are the top sponsors of Brazil’s top soccer teams.

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Finally, India will be able to identify that the resistance has the opposite effect. cricket national madness; Giving up revenue from illegal gambling dominated by the mafia is ridiculous. A well-regulated domestic gambling industry will allow a country to offer more innovative solutions to the world, which is likely to be fake. Both creating and testing games.

More on Bloomberg Opinion

• Gambling’s global coming out party in Qatar: Lionel Laurent

• For the World Cup winner; Don’t bet the money: Eduardo Porter

• Cybersecurity Needs Its Own Sarbanes-Oxley: Tim Culpan.

This column does not necessarily reflect the opinion of the editorial team or Bloomberg LP and its owners.

Andy Mukherjee is a Bloomberg opinion columnist covering industrial companies and financial services in Asia. Previously, he was Reuters, Worked for Straits Times and Bloomberg News.

Tim Culpan is a Bloomberg columnist covering technology in Asia. He was previously a technology reporter for Bloomberg News.

More stories like this are available at bloomberg.com/opinion.

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