WA.Technology’s Weekly iGaming News

January 12, 2024

We welcome you back to our end-of-week iGaming newsletter, full of exciting newsbites to start your weekend. In our first edition of 2024, we delve into the latest news from Brazil, Mexico’s promising future, the biggest iGaming events, and more. Enjoy!  

Law No. 14,790 – Brazil Embraces iGaming Future

Brazil has ushered in a new era for iGaming and sports betting with the recent sanctioning of Law No. 14,790 by President Luiz Inácio Lula da Silva, dated December 30, 2023. Initially presented as Bill PL 3,623/23, key aspects of Law No. 14,790 underwent rigorous debates and modifications in Congress, including provisions for online casinos, marking a significant shift in Brazil's approach to online gaming. 

Betting will be operated under the supervision of the Ministry of Finance, ensuring regulatory oversight. The law mandates that operators have a significant Brazilian presence, requesting them to incorporate local entities with at least one Brazilian associate holding 20% or more share capital. 

Responsible gaming practices are stipulated as minors, and those with potential influence over game outcomes, such as sports managers, referees, and athletes, are prohibited from betting. Facial recognition technology for verification and stringent rules for advertising and marketing will maintain security.

The law sets a grant value of R$ 30 million for operation rights in the country, with operators taxed 12% of their Gross Gaming Revenue (GGR), and bettors face a 15% tax on their winnings. However, a veto specifies that prizes less than R$2,112 are exempt from taxation. Revenue will benefit sports, education, tourism, public safety, and social security.

Pixbet Scores Record Deal with Flamengo

Esteemed WA.Technology client Pixbet's groundbreaking partnership with Flamengo set a new record in Brazilian football sponsorships. Pixbet, one of the biggest names in Brazilian iGaming, will become Flamengo's primary sponsor in a R$170 million (USD 34.8 million) deal over two years - the highest investment ever for a prime spot on a Brazilian team's shirt, according to Games Magazin Brasil.

This strategic move upgrades Pixbet from an official partner to the forefront of Flamengo's iconic red-and-black shirt. The agreement includes significant digital exposure via Flamengo's vast social media reach of over 57 million followers. Tadeu Dantas, co-founder of Pixbet, said, “This is an important asset both for the visibility and for the commitment that a sponsorship of this magnitude guarantees for Pixbet.”

Mexico's Online Gaming 70% Growth Forecast

Mexico's online gaming sector is on the brink of expansion, with an anticipated 70% growth in the next three years. This surge is attributed mainly to recent legislative shifts that steer gamers towards virtual casinos and online platforms over land-based establishments. Increased internet penetration and smartphone access in Mexico further support the estimate. 

Projections suggest that online casino users could reach 31.6 million by 2028. This growth is not limited to traditional demographics, with a notable rise in women participating. El Financiero, a Mexican news site, reported that Bernardo Verdejo Landeros, Mexico manager at Strendus, said, “For the next three years, online casinos have very good prospects; we expect revenue growth of up to 70 percent, well above the projections we had a few months ago.”

SBC Summit Rio 2024 Line Up

The SBC Summit Rio 2024 is set for March 5-7 at Rio de Janeiro's Windsor Convention & Expo Center. The agenda, packed with insightful sessions and networking opportunities, will welcome over 3,000+ delegates, 900 operators, 300 affiliates, 100 speakers, and 150+ exhibitors & sponsors.

Key highlights include the 'SBC Leaders' and 'Advertising Regulation' discussions, a look at the first six months of regulated sports betting, and panels on affiliate leadership and international operators. Significant data insights, player protection strategies, and local marketing approaches will also feature prominently. Innovation, chat-based communications, and eSports are other exciting topics. The summit aims to offer a rewarding experience uniting top executives from across the globe.

ICE London 2024 & iGB Affiliate iGaming Fusion

This February, London is set to become the epicentre of the iGaming world, hosting two monumental events, ICE London 2024 and iGB Affiliate London 2024, concurrently at ExCeL London. ICE London, scheduled for 6-8 February, is a prestigious gathering of over 45,000 gaming industry professionals. Simultaneously, iGB Affiliate London 2024, on 6 and 9 February, offers a unique opportunity to connect with thousands of affiliates, networks, and advertisers, with over 6,500 attendees and 200 exhibitors. These concurrent events provide a comprehensive platform for professionals to explore all things iGaming. 

A highlight of ICE London 2024 is the significant presence of WA.Technology, showcasing their latest advancements, including the upgraded and enriched WA.Platform and market expansion, notably in African markets, from the specialist market teams. Attendees can expect exciting WA.Fantasy and WA.Lottery game launches, big prize giveaways, and a unique Latino Fusion Night for partners and clients.

Meet the WA.Technology team at stand S4-240 or at their exclusive area in the WA.Technology-sponsored Meeting Zone S1-360. Contact the team to book a meeting.

WA.Technology Weekly

Join us again next time for more iGaming news from WA.Technology. If you want to know more about getting your own iGaming business off the ground or expanding your current brand, contact us at hello@watechnology.com