May 15, 2024
Renzo Escalante on iGaming's Growth and Educational Initiatives in Latam
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March 29, 2024
March 29, 2024
As we make our way towards the end of Q1 2024, WA.Technology presents its weekly iGaming roundup of insights. Gathered from across the globe, our five hand-picked stories will kick your iGaming weekend off in style. So, settle in, pour yourself a coffee, and indulge.
Brazil's Senate has passed bill (PL) 2,796/2021, establishing a legal framework for the electronic games industry, aiming to exclude slot machines, betting games, lotteries, and fantasy games from the definition. Spearheaded by Senator Leila Barros and Deputy Kim Kataguiri, the legislation seeks to regulate the manufacture, import, marketing, and development of electronic games, promoting investment in the sector and differentiating them from other types of games, such as online casino games.
Recognising electronic games as computer programs that provide entertainment through user interaction, the bill emphasises job creation and combatting illegal activities while offering tax benefits to boost the sector. Special considerations are included for minors' involvement in game development and measures to ensure games aimed at children and teenagers provide user protection. The legal framework is a step towards correcting market imbalances in Brazil's gaming industry.
The Curaçao Gaming Control Board (GCB) has set a March 31 deadline for gambling operators to apply for direct licences under the current National Ordinance on Offshore Games of Hazard. This move comes as Curaçao aims to refine its gambling industry's regulatory framework and enhance its international reputation. The guidelines provided by the GCB detail the application process and the necessary documentation, ensuring clarity for existing sub-licence holders.
The initiative is part of Curaçao's transition towards the National Ordinance for Games of Chance (LOK), a forthcoming legislation expected to elevate the island's standing in the global iGaming market by enforcing transparency, accountability, and international compliance standards. The finance minister, Javier Silvania, stressed the importance of the legislation in dispelling negative perceptions and establishing an improved industry. Speaking in parliament, Finance Minister Javier Silvania said the new law “will enhance our reputation by promoting transparency, accountability and compliance with international standards in these critical areas.”
The 2024 Brazilian Women's Football Championship, which commenced on March 15, saw a significant trend, with fourteen out of the sixteen teams sponsored by sports betting companies. This development mirrors the men's league, indicating a growing commercial interest in women's football across Brazil. The only teams without such sponsorships are Grêmio and Real Brasília.
This year's championship promises enhanced competitiveness and visibility, further boosted by the Brazilian Football Confederation's increased prize pool, with the champion team set to receive BR$1.5 million. The partnerships between women's football teams and betting operators show the increased support for female athletes in Latam. Such collaborations are generally seen as positive for the sport's development, offering financial backing and promoting wider recognition of women's football in Brazil.
In 2023, gambling activities in Antioquia, including lotteries and games of chance, significantly contributed to the health sector, with over COP120,400 million. Coljuegos, alongside the National Council of Games of Luck and Chance (CNJSA), reported that these funds are part of nearly COP1.1 trillion allocated nationwide from gambling revenues.
This financial injection, up 5% from 2022, supports various health initiatives. The sector's overall success is evident in the substantial prize payouts to bettors, exceeding COP1.8 billion in 2023. Coljuegos emphasises the importance of purchasing games from authorised vendors, underscoring the critical role of territorial gambling in enhancing public health funding in Antioquia.
GAT Expo in Cartagena, 9 – 11 April in Columbia, is a premier event for all interested in iGaming and gambling in Columbia and surrounding regions. Visitors can find WA.Technology at Stand B16, showcasing its full spectrum of iGaming solutions and products. Contact the team to arrange a meeting.
The Indian Gaming Tradeshow & Convention, set for April 8 – 11, 2024, at the Anaheim Convention Center, California, is a premier event connecting tribal and gaming leaders. This year, it introduces the first DigitalPlay Summit on April 10 – 11, focusing on the future of iGaming and sports betting in North America. The summit, part of the convention, will feature iGaming and sports betting exhibits, content sessions, and expert insights into the online gambling market.
Attendees include tribal and commercial casinos, online gaming operators, sports teams, and affiliates. With registration to the DigitalPlay Summit included in all convention badges, participants can expect a comprehensive experience with the opportunity to connect, exchange ideas, and learn from industry leaders across various sectors. This event is essential for those looking to shape the future of North American iGaming and sports betting.
Join us again next time for more iGaming news from WA.Technology. If you want to know more about launching your own iGaming business or expanding your current brand, contact us at [email protected].
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