In October, the Chamber of Deputies approved the regulatory framework for electronic games, after tireless work by the Brazilian Fantasy Sport Association (ABFS) to demonstrate the main characteristics of the practice and contribute to the separation of fantasy sport from games of chance.
With the inauguration of new deputies and senators, this Wednesday, February 1st, the ABFS highlights that numerous deputies “were essential for the fantasy sport agenda to advance in the Chamber, especially in the Fantasy Sport Legal Framework.”
Rafael Marchetti Marcondes, president of ABFS, accompanied by several directors of the association, founded to provide institutional and legal support to the practice of fantasy games and electronic sports, was very close to party leaders to contribute to the good understanding in the Chamber of Deputies that the activity should be encouraged in Brazil.
Among the actions, the ABFS board handed out “Fantasy Sport Encouraging” certificates to several deputies, including Kim Kataguiri, author of the Legal Framework for Electronic Games; Júlio César Ribeiro, author of the Amendment to include Fantasy Sport in the legislative text; and Coronel Chrisóstomo, president of the Parliamentary Front for Electronic Games and Games and also author of the Amendment.
“Their role was very important for Fantasy Sport in Brazil!”, highlighted Rafael Marcondes, president of ABFS, recalling that “we recognize that many others participated in this discussion and, on behalf of the entire industry, we thank them for their support for this agenda!”
Bill 2796/2021, approved in October in the Chamber of Deputies, is in the Senate and the president of ABFS reinforces the importance of the project. I’m looking forward to its vote in the Federal Senate so that advances for the sector are implemented.”
The project regulates fantasy games in Brazil, in addition to bringing standards for computer programs and electronic game devices, generating enormous development prospects for the sector. The Bill will be reported by Senator Irajá (PSD/TO) and is under analysis by the Senate Economic Affairs Committee (CAE).
With a heated consumer market and well-trained workforce, the fantasy sports segment is optimistically awaiting the approval of the agenda, as it is a recognition of the sector, which today generates taxes, jobs and an annual revenue of almost R$ 60 million (US$ 11.8m) in Brazil and which could reach R$ 100 billion (US$ 20 billion) worldwide with the estimate of creating tens of thousands of direct and indirect jobs.
Rafael Marcondes explains that the regulation will boost the market and bring legal certainty to everyone, including new players. “Companies and consumers now have clear guarantees and guidelines, leading to growth on all fronts of the sector.”
The president of ABFS also recalls that the moment is one of growth. "We see the gain in purchasing power of the current young population, the greater interest of the female public in the segment, the improvement of the digital infrastructure, the lowering of the price of smartphones, the expansion of 5G internet in the country and the entry of new players in the market. Everything this helps to promote fantasy sport on national soil,” he adds.
Source: GMB
