Buenos Aires to Launch Online Gambling in Q4 2020
The capital of Argentina has established guidelines for online gambling permits, with plans to commence operations in the final three months of 2020.
The city’s gambling oversight body, Loteria de la Ciudad (LOTBA), has suggested the creation of numerous “online gambling entities” capable of providing sports wagering, slot machines, lotteries, and a variety of casino table games.
Although there is no restriction on the quantity of permits, operators must have a total sales income exceeding 100 million Argentine pesos and have been in operation for at least two years. Operators cannot be found guilty of providing illegal gambling in Argentina and cannot be proprietors of retail gambling establishments or casinos within the city.
License holders must pay a $30,000 license processing fee and a $100,000 fixed annual license fee, along with a $2 million “compliance assurance” as a form of insurance. LOTBA will impose a 10% tax on gambling earnings.
LOTBA has also indicated that further rules concerning marketing may be released in the future.
Throughout the previous twelve months, the province of Buenos Aires, legally distinct from the city, has been making arrangements to issue its own online gaming permits, drawing attention from a variety of operators, including Bet365, Betway, and Codere LatAm.
However, political instability has cast a cloud over the initiation of online gambling, as the governor of Buenos Aires Province, Maria Eugenia Vidal, who favored gambling, was defeated by Axel Kicillof of the Justice Party and Front for Victory alliance.
Based on local news sources, seven licenses will be granted from a pool of seventeen applicants: Argentine Bingo in collaboration with William Hill; Bingo Pilar and Paddy Power Betfair; Bet365 and Pasteko; Playtech with Tandil Hotel Casino; 888 and Boldt; Atlantica de Juegos and the Star Group; and Intralot with BinBaires. But no official announcement has been made yet.
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