Fellipe Fraga, COO of EstrelaBet
"iGaming is one presidential signature away from being officially regulated, and it's time to shine. I've been fighting for this moment for 'days' compared to other friends and 'dinosaurs,' dreaming of this same day for decades. For now, I just want to thank the dedicated effort provided by those men and women who have helped Brazil in recent years. And when I say Brazil, I mean 'our country,' because this historic day directly reflects on the people, who will have a new clear field for entertainment, to benefit from taxes, and assistance in safe gaming. The fight is not over. We have to celebrate but stay alert and vigilant for a continuous challenge that is coming. There are more barriers to overcome. Time to shine."
Guilherme Buso, Account Manager at Genius Sports and Director of the Brazilian Association for the Defense of Sports Integrity (Abradie)
"After many years of effort, debates, and discussions to regulate this market, which is extremely relevant worldwide, the regulation of sports betting in Brazil has come out. A historic moment for the industry, consumers, sports, and Brazil, which will now generate revenue and have the necessary conditions to monitor, regulate, and take appropriate measures against match-fixing and corruption related to bets. The necessary transparency we have always sought. We are sure that there is still much to be done, but the most important step has been taken, and the Brazilian market enters 2024 experiencing its best moment, more mature, stronger, and now regulated."
Edson Lenzi, CEO of PayBrokers
"The approval of the bill is a significant and important moment for the sector. It contributes to the legal security of all operators and entities involved in this market. There are still various details that will only be addressed in the regulation of the Ministry of Finance, but the fact that the National Congress has finally regulated sports betting and online gaming should be celebrated as a significant advancement for the country."
Bruno Almeida, Business Development Manager at XSA Sports
"The approval of this project is a significant milestone for the industry in Brazil. It provides a clear regulatory framework, increasing legal security for suppliers, operators, and users. The inclusion of online casino games is a notable advancement for XSA Sports. This change significantly expands our potential market, allowing us to offer a wider range of products. We are intensively preparing to comply with the new regulations, ensuring that our technology complies with established standards, providing a safe and responsible experience for our operators and their users. Brazil emerges victorious with this approval, which will generate new investments and the creation of thousands of new jobs in our country."
Pedro Soares Fraiha, CEO of Pay2free
"The approval of the online betting bill represents a significant milestone for the gaming industry and, specifically, for companies like ours, focused on payment methods. This historic moment not only recognizes the reality of sports betting platforms in the country but also signals the urgent need for regulation. For us, this approval not only opens doors for business opportunities but also emphasizes the importance of establishing a safe and transparent regulatory environment for players and operators, strengthening confidence in the market."
Ruy Conolly, CTO of Grupo Esportes da Sorte
"Grupo Esportes da Sorte celebrates the approval of PL 3626/23, which regulates online games and fixed-odds betting in Brazil. This achievement is fundamental for a sector that generates jobs and strengthens sports, leisure, and entertainment in the country. From 2024, Brazilian companies will be able to operate legally under regular CNPJ. This news is of great relevance to society as a whole. Grupo Esportes da Sorte will continue to operate responsibly, seeking the growth of the sector transparently and ethically."
Rodrigo Alves, President of the Brazilian Sports Betting Association (ABAESP)
"After literally 5 years of dialogues, propositions, and seeking the best possible regulation, this day has come. As an association, we would like the casino to be regulated as well, but in an individualized way. However, it is undeniable that the final result will make Brazil one of the largest, if not the largest, gambling markets in the world. Our biggest fight was regarding the taxation of the bettor, and the 15% with annual calculation leaves ABAESP proud of the work done. Certainly, new chapters will be written from now on, and we will continue to actively contribute to the advancements of the sector."
Leonardo Batista, CEO and co-founder of Pay4Fun:
"The approval of the bill that regulates sports betting and other gaming verticals is a significant milestone for the industry in Brazil. The country is already the second-largest betting market in the world, and with regulatory framework, it is poised to become even more relevant in the sector. The project's approval provides legal certainty for companies and players, contributing to the prevention of financial crimes through institutions regulated by the Central Bank. Pay4Fun was the first institution to receive authorization from the Central Bank in record time and already implements rigorous measures to ensure the safety of its customers and is prepared for this new moment in the market."
Rafael Marchetti Marcondes, CLO of Rei do Pitaco
"What a day, gentlemen!! The gaming market is finally starting to come to life, even with more than 5 years of delay. Many people involved. Work from many, both in the private initiative and the Government. A collective construction. PL 3626, as approved by the National Congress, should make Brazil a reference market for the whole world. Yes, adjustments will be made along the way. But we have a well-balanced regulation. Optimistic about what is to come. Only the presidential sanction is missing. The giant has awakened, is definitively standing, and is moving forward at a fast pace! My first reflections on a vote that went into the early morning and on a poorly slept night but very happy!"
João Gabriel Fraga, CEO of Paag
"The approval of the 'Betting Bill' is a significant victory for the sector in the country! After nearly a year of debates, we have the long-awaited regulation. From now on, we expect a supervised sector, with much more security and transparency, ensuring an increasingly fair market. Our team of experts has been following the process from the beginning, and Paag is 100% prepared for this new scenario. We have created innovative products that were only possible thanks to this great and important step. We look forward to a 2024 of significant growth and innovation."
Source: Exclusive GMB
