WA.Technology’s Weekly iGaming News

May 10, 2024

Welcome to WA.Technology’s weekly iGaming Newsletter. This edition presents a curated collection of the latest global iGaming developments tailored for industry experts and avid gamers alike. Start your weekend the right way with WA.Technology’s weekly iGaming news

Brazil's Betting Scene: 22 Million Bet Online & Vicentini Departs

Research from The Brazilian Association of Financial and Capital Market Entities (ANBIMA) revealed that 14% of the population, approximately 22 million Brazilians, engaged in online betting in 2023. This substantial number confirms the growing interest in the country as it continues to establish itself as a formidable market. The numbers have surpassed traditional investment forms, including private bonds and mutual funds. 

Also in Brazil, Simone Vicentini stepped down as Deputy Secretary of the Prizes and Betting Secretariat shortly after Régis Dudena was named head. During her tenure, Vicentini spearheaded the development of foundational regulatory policies and played an essential role in structuring the newly formed secretariat. Her efforts have been fundamental in moving Brazil towards a flourishing regulated market. Announcing her departure on her LinkedIn page, she highlighted significant achievements and thanked José Francisco Manssur for his support during her time in the role. Vicentini commented, ‘The feeling is of duty accomplished, and of having contributed in a responsible, ethical, dedicated, democratic and transparent way to the regularization of the betting market in Brazil.’ 

Chile Aims to Regulate Online Gambling in 2024

Vivien Villagrán, President of the Chilean Superintendency of Gaming Casinos (SCJ), expressed optimism about passing a legal framework for regulating casinos and online sports betting within the year. Speaking at the Cibelae Conference in Buenos Aires, Villagrán outlined the progress of the bill currently under Senate review which aims to establish a regulated gambling environment. 

The bill includes stringent measures against platforms that operated illegally before the law’s enactment, offering a transition period for compliant platforms. The framework addresses issues including cybersecurity, verification, and account restrictions. Villagrán commented that regulated online gambling will not hurt land-based casinos, which have now returned to pre-pandemic levels of success. 

Ontario's iGaming Market Increase

Ontario's iGaming market has shown significant growth two years into its regulation, with $63 billion in wagers and $2.4 billion in revenue in its second year, according to iGaming Ontario's latest report. The province now ranks as the sixth-largest online gaming jurisdiction globally. More than 86% of local online gamers opt for safer, regulated sites with enhanced consumer protection. 

iGaming Ontario's focus on responsible gambling includes mandatory operator contributions to educational campaigns and developing a centralised self-exclusion program. Looking ahead, iGaming Ontario aims to attract more operators to the regulated market, reinforcing its success and ensuring safe gaming experiences.

American Gaming Executives Optimistic Amid Challenges

According to the American Gaming Association's (AGA) Gaming Industry Outlook, American gaming executives remain optimistic about the industry’s future despite anticipating a short-term slowdown in growth. The report highlights that nearly all executives view the current business environment positively, with a shift towards optimism about the future compared to the previous quarter. Key findings reveal that while executives expect a deceleration in revenue growth, they anticipate general improvements over the next six months. 

Concerns such as inflation and interest rates influence strategies, with many executives planning investments in other sectors such as hotels and conventions. The Current Conditions Index indicates that the gaming industry is growing faster than the overall U.S. economy, with expectations for continued, moderate growth.

MARE BALTICUM Gaming & TECH Summit 2024 & BSG Awards 

The MARE BALTICUM Gaming & TECH Summit, celebrating iGaming, eSports, Blockchain, and tech, is set to take place on 4 – 5 June in Tallinn, Estonia. Nominations for the Baltic & Scandinavian Gaming Awards (BSG Awards) have been announced. The awards will take place on 4 June to honour the top achievers in the iGaming industry in the Nordic and Baltic markets. 

The awards, an integral part of the summit since its second year in 2019, recognise the outstanding contributions of gaming software suppliers, operators, and providers active in the Baltics and Scandinavia. Summit participants will cast a final vote. This year's ceremony, held at Hilton Tallinn Park, promises to continue its tradition of celebrating excellence from across a wide range of industry contributors.

WA.Technology Weekly

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

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