The interest on the part of the federal government has grown in relation to the Brazilian gaming market. With an eye on investment possibilities in the country and job creation, vice-president Geraldo Alckmin, minister of Development, Industry, Commerce and Services, has already had a meeting with Abragames (Brazilian Association of Games Developers) and says that wants to be ‘godfather’ of the sector.
Even before he was elected, Luiz Inácio Lula da Silva had already indicated an approximation of the sector through the Lula Institute, which prepared a booklet, entitled Lula Play, which had the participation of professionals from the sector for its elaboration and has demands that cover several points that are industry-sensitive issues, such as regulation of industry professionals, no fees for development kits, and meeting eSports demands, for example.
As for the Legal Framework for Games the text was approved in the House in 2022 and is in the Economic Affairs Committee, where it will be reported by Senator Irajá. Bill 2,796/2021, under his rapporteur, creates a Legal Framework for the Electronic Games industry and for Fantasy Games (fantasy games) in order to encourage the development of these markets in the Brazil. The proposal awaits approval by the Federal Senate.
The text sent to the Senate provides that the manufacture, import, commercialization and development of electronic games in Brazil, as well as the provision of entertainment services linked to them, will be free. The bill also regulates the fantasy games industry based on international industry rules.
Senator Irajá reaffirms: “The games market is the future at our doorstep. It is necessary to take an extra step to professionalize more and more and thus generate jobs and boost the economy. I support the constant improvement of this sector and market development for our young people.”
In the opinion of the president of the Brazilian Association of Fantasy Sport (ABFS), Rafael Marchetti Marcondes, the legal framework is important for the development of the entertainment industry, as it will provide security for consumers, investors and operators, further consolidating the gaming market in Brazil.
"The project that is in Congress is in perfect harmony with the Economic Freedom Law. It should be noted that the fantasy sports market in Brazil is potentially seen as the third largest market in the world. So, what we have is that in 2021 the sector moved around R$ 66 million in Brazil. It is estimated that, with the regulation of fantasy games, it will generate around 5,000 direct and indirect jobs next year and have a 120% growth in market revenue by 2026. It is clear that it is a great investment and a great opportunity for Brazil," highlights Marcondes.
In the world, the fantasy game moved about US$ 22 billion in 2021, showing a growth of 9.5% in that year alone. The largest global market is the United States, which circulated more than US$ 8.37 billion in the same period. India, the second world market, has more than 130 million fantasy sport players, which in 2021 generated revenues of US$ 4.42 billion.
Source: Adrenaline
