The Brazilian Association of Fantasy Sports (ABFS) celebrates today the approval of the Legal Framework for the Electronic Games Industry and Fantasy Games in the Chamber of Deputies.
For the entity, it is a recognition of the sector, which today generates taxes, jobs and an annual revenue of almost R$70 million.
“We congratulate the Chamber for understanding that we are a structured and consolidated sector as an economic activity. We are sure that the regulation brought about by Marco Legal will expand investments in our segment, which has always wanted to operate within an environment with legal security”, said Rafael Marchetti Marcondes, chairman of the ABFS board of directors.
The official explains that at first the text made references only to console and PC games, leaving aside those of the software available in applications that can be downloaded on cell phone devices, and games that run directly via the web. “Parliament understood that it made no sense not to bring into the legal framework one of the most relevant aspects in terms of the number of players”, explained Marcondes.
One of the largest companies in the sector, Rei do Pitaco, also celebrated the Chamber’s decision. “Having Fantasy Games regulated is important to us for our customers, as it brings a safe environment, in which only the skill of each player will impact the final performance. And it also allows us to have financial and operational planning”, said the director of Regulation and Government Affairs of Rei do Pitaco, Bárbara Teles.
In addition to Fantasy Games, the approval of the Legal Framework regulates companies in the field that operate in segments such as arcade, video games and PC, among others, generating huge development perspectives for the sector.
According to the Brazil Games Export Program report, Brazil is the largest game market in Latin America and the 10th in the world in terms of revenue.
