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Edgar: Well, everyone that loses is going to think that, right? Daniel: Mostly, but one important fact is, there are two institutions in the UK that treat that. The arbitration one is the IBAS. They are basically online, but they work mostly for online casinos. So sports betting are not their major concern. They also function for that, but online casinos have a lot of more problems than sports betting.
Because with sports betting mostly, okay, the team won or they had a tie game. You can't discuss it too much, but sometimes bonuses and if the guys scored goal that way, not this way. Because they can bet in a series of manners. Not only in the win, or in the tie, or in the loss of the field.
They can, if the guy scores a goal at the last minutes or something like that, they can do some kind of bet in that way. Depends on the website, but they can argue that. But basically it's bonuses and the amounts paid. So that's the major discuss.
Edgar: So for someone who's looking to get into online sports betting, because now everyone that's listening to this I'm sure is they're going to go and read the fine print in the end user agreement, what makes a good dispute clause and what is a, kind of a, not good one?
Daniel: First of all, good dispute resolution clause is a clause that shows you who to look for easily. Do you know who you need to contact if you have a problem? That's the first question you need to ask. And if it's open, for example, all the conflicts from these contracts are going to be solved by arbitration. Okay, by arbitration. But who am I going to need to look? You don't know who, so that's what we call an empty clause, so that's not a good clause. If you're in the US, you need to go to Cypress to sue someone, that's not gonna to do it.
So yeah, that's not definitely a good clause. And you need to see the website certifications. So you can see the stamps, if it has the fairness seal or something like that. So you see it's a good website, it's not a biased website. Because when you are betting, you don't want anyone biased. You want to have a fair and square chance, so that's basically it.
Edgar: So then, from where is the push coming for a wider acceptance of ADR? Is it coming from the side of the companies, or the side of the government, or is it more of kind of like a grass root, user-end driven? Daniel: You're talking only about sport betting only, or in general?
Edgar: Maybe you could first answer for sports betting and then answer for urban conflict? Daniel: About sports betting, conflicts arise when we have users. And it's a growing market here in Brazil. Two years ago, I think it was one or two billion reais, this is our currency here in Brazil. And after the approval of the sports online betting act, they're prospecting an eight billion marketing per year. So it's huge. It's going to be huge here in Brazil after it's legal. And I see common guys, everyday guys, workers, betting a lot.
I don't because I don't like to spend my money, I'm basically American, that sense of way, you know. I just not going to throw away my sweat money. I've sweat, I've worked a lot for it, so I'm not going to go throw it away. But it's a growing market here. I could say that. So the more people use it, the more conflicts are going to arise. And that's the truth.
We have a Mediation Act from , an Arbitration Act from We have our courts using mediation and supporting arbitration, especially our Superior Court of Justice, which is our highest court for non-constitutional matters. It's called STJ. And we have huge and serious ADR providers growing here in Brazil. I'm the CEO of one of them. We're top four, I would say. But the biggest ones are in Sao Paulo because you need to understand Brazil politically.
Brazil is like the US in some kind of way. New York is the financial capital and DC is the political capital. So Brazil, San Paulo is the financial capital, is where the stock market is, so it's where the money is. And Brazil is - in the center of Brazil is the political capital, it's where corruption is, I can say that.
Actually corruption, unfortunately, is everywhere in Brazil. Just so people have an idea politically in Brazil. In Rio de Janeiro, our five former governors were in jail or are in jail in Rio de Janeiro. So it's kind of crazy here and they enjoy the pandemia, and still a lot more, and that's proven, I'm not saying that out of my mind, it was proven. So that's kind of crazy here in Brazil.
But ADR is growing a lot, especially for big businesses. The Brazilian Confederation of Soccer, CBF, they have arbitration in the first instance there, and then it goes for us if they appeal. So I see a lot of soccer cases and big money involved, like, five million cases, ten million dollar cases, and that's in soccer. So it's a huge market here in Brazil, and it's a growing market, and that's arbitration. Edgar: So why arbitrate instead of litigating?
Daniel: Actually soccer here in Brazil, they cannot go to the judiciary. It's a kind of special justice. They can if it's a labor law related issue. But usually they avoid to put soccer issues in the market, because they can have as sanctions from FIFA, from the International Federation of Soccer and things like that. So it's kind of a special justice. But let's just put it this way: two disciplinary matters, like one player hit another player or got a red card or something like that - for disciplinary matters, we have a special court here, which was created a by constitution.
So for state competitions, you have one kind of tribunal. And for national competitions, we have STJD it's for Copa do Brasil, the Brazilian cup, and the Brazilian championship, which are two national championships. So STJD decides the disciplinary matters for this, if a player is going to be suspended or something like that, okay?
But when we're talking about money involved, we have arbitration. So we get a lot of cases. So we don't decide disciplinary issues, just basically contract issues. Edgar: Civil matters. Daniel: Yeah. Don't say civil matters, but yeah. And it gets bigger and bigger. Just so you know, last week we received six new appeals at CBMA between clubs, and players, and things like that.
And we have to decide really quickly. And basically that's why people choose arbitration. It's a lot quicker. In commercial disputes between companies not in sports, for example. Disputes stays in the judiciary, lasts for like seven, eight years, at least. If it's big, it's fifteen years or something like that. In arbitration, we can decide that in two years, between 24 and 30 months. So it's a huge advantage. Plus we have confidentiality, which for companies is really an advantage.
Plus you can choose the arbitrators. You choose people that are going to judge your case, an arbitrator case, there are really specialists in that field. Edgar: Who chooses? Daniel: The parties. So usually it's a tribunal, when it's not fast track arbitration.
Because arbitration depends on the arbitration rules of the chamber. And it varies. It's like a mini civil procedure code, but the rules, the procedure, inside the chamber. So in our chamber, for example, fast-track arbitration, which is supposedly faster, it's for cases up to six million reais. So after that, you need to have a tribunal, which is three arbitrators. One party appoints one arbitrator, the other party appoints the other arbitrator, and both of these co-arbitrators, they appoint a president for the tribunal.
So we have a tribunal formed by three arbitrators. And that's the rule around the world. Edgar: And how does the process of arbitration actually work in these kinds of cases? Daniel: What sports, or commercial, or any one of them? Edgar: Sticking with sports. Are the proceedings the same for every case? Or do they change on a case per case basis? Daniel: Yeah, mostly the same, but we have specific regulations, specific rules for ordinary sports arbitration and appellate sports arbitration.
We have different rules for that. And another set of procedural rules for commercial arbitrations. But it's the same logic. You appoint the arbitrators, and then the procedure starts, you have the initial allegations of the parties, and then the procedures go on. And we have people inside the arbitration chamber that are responsible for the proceedings, actually. So we have the case manager that stays there and look at the proceedings, and communicates with everyone, with the arbitrator tribunal, with the parties, and with anyone out there is necessary with.
For example, the experts, things like that. Edgar: Okay, very good. Thank you very much. Is there anything else that you'd like to add, some that I missed? Daniel: I'm always here seeing Buffalo pictures and UB pictures. And it's a great university, and I really miss you guys, and I hope I can be in Amherst. And US, you have my heart, Buffalo, Amherst, you have my heart. Thank you. Edgar: Have a wonderful day. That was Dr.
New research from marketing group Hot Paper Lantern shows that around a third of the sports bettors out there are women. This research is an eye opener for a lot of sports betting operators as it means there is a big untapped market that has not been targeted. The study is backed up by data from the American Gaming Association AGA that revealed that around 32 percent of bettors were women during Laila Mintas said that this is a big chance for sports betting operators to target a new audience.
She points out that nearly 50 percent of sports fans are female and it only takes a small push for them to start betting on their favorite sports. Las Vegas Review-Journal Most sports betting operators tend to only target the male customer and as a result have left a lot on the table. Mintas points out that understanding and encouraging female sports bettors would be a big boost to the overall sports betting market.
For a demographic breakdown, women bettors are mainly young women. Gen Z women make up 27 percent of the sports betting population while Millennials comprise of 28 percent. Those who are older are less consistent about their betting.
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