WA.Technology’s Weekly World iGaming News

March 8, 2024

WA.Technology presents its curated weekly roundup of the most fascinating developments and exciting breakthroughs in iGaming. Let us enrich your weekend with an engaging ten-minute glance at the latest from the iGaming stratosphere, courtesy of WA.Technology.

Brazil Eyes Economic Boost with Casino

President of IDT-CEMA (Institute for Development, Tourism, Culture, Sport and Environment), Bruno Omori, emphasised the significant opportunities for Brazil in casino and gaming during the ESFE 2024 (Meeting of the Fairs and Events Sector) event. Omori stressed the potential for economic growth, job creation, and tax revenue the activities could bring to the country. With the global tourism industry set to return to pre-pandemic levels, Brazil's inclusion in the regulated online betting market represents a timely move. 

Omori discussed Brazil's missed economic benefits in the past. He reflected on boosting the sector with investment and other areas, such as real estate, engineering, and tourism, which could make Brazil a leading global market. Some current projections suggest the generation of over R$100 billion in revenue and R$12 billion in federal taxes, with investments in physical casinos reaching approximately R$350 billion. The move could have a widespread positive impact on Brazil's economy.

Brazil: Voting Window Closes for Presidential Vetoes on Sports Betting Law

Staying in Brazil, the deadline for the Brazilian National Congress to vote on presidential vetoes to Law 14,790/23 has now expired. President Luiz Inácio Lula da Silva sanctioned the law regulating fixed-odd sports betting and online casino games with vetoes in December last year. As no vote in the Chamber of Deputies within the allotted timeframe happened, the legislative agenda is now on hold until these vetoes are presented to the plenary. 

The vetoes must be reassessed by parliamentarians, who can override them with a majority vote in both the Chamber and the Senate. Parliamentarians can overturn presidential vetoes in the plenary with a majority vote, requiring at least 257 votes from federal deputies and 41 votes from senators.

Mexico's iGaming Sector’s Predicted Surge of 70%

Mexico may see 70% growth over the next three years after the reform of the Federal Law of Gaming and Sweepstakes by President Andrés Manuel López Obrador's government. The optimistic estimate is substantially larger than the 2023 projection, with an estimated revenue of around $4,063 million by 2027 – a 39% increase. 

The reform, which limits new permits and renewal for slot machine operations in land-based casinos, is expected to shift players towards online platforms, establishing the online sector's expansion. Estimates put the number of Mexicans participating in iGaming activities at a projected 31.6 million by the end of 2028. The regulatory changes position Mexico's iGaming industry as a formidable contender for accelerated growth, despite the conservative outlook for traditional brick-and-mortar casinos.

Sportradar's Third Integrity Report: AI Advantages

Sportradar Integrity Services has released its third annual integrity report, ‘Betting Corruption and Match-Fixing in 2023,’ revealing the company's findings on suspicious betting activities across global sports. Sportradar monitored around 850,000 events in 70 sports and identified 1,329 suspicious matches in 2023, spread across 11 sports and 105 countries. 

The rate of suspected manipulation remained stable at 0.21%, indicating that 99.5% of events were free from suspicious betting activities. AI technology played a crucial role, detecting 73% of all suspicious matches, a 123% increase from the previous year. Sportradar's technology and expert analysis to safeguard sports integrity are reflected throughout the report. It demonstrates the importance of industry-wide collaboration and technological innovation in combating match-fixing and maintaining the integrity of sports worldwide.

The Gaming Industry Mourns the Loss of Latam’s Manuel San Román

Manuel San Román Benavente, a distinguished Latin American gaming sector figure and former General Director of Casino Games and Slot Machines in Peru, has died at 74. From 2006 until March 2022, San Román played an important role in formalising Peru's land-based gaming sector, significantly reducing illegal gaming and enhancing tax collection. 

Benavente was instrumental in the 2023 regulation of iGaming in Peru and had recently joined Apuesta Total as Compliance Director, promoting investment, transparency, responsible gaming, and fair competition. His passing has deeply moved the community, reflecting on his substantial professional contributions in Latin America and beyond.

WA.Technology Weekly

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