Buenos Aires legalises online gambling and sports betting
Licensed operators will pay 25% GGR tax in the Argentinian province
The Governor of Buenos Aires, Maria Eugenia Vidal, has signed an official decree making online gambling legal in the Argentinian province.
Under Decree 181, online casino gaming and sports betting will now be legalised and regulated by the Buenos Aires Provincial Institute of Lottery and Casinos. A total of seven online gaming licences will be available, to be issued by the Buenos Aires government subject to one licence per operator.
Operators seeking licences will need to meet up to 20 criteria, in areas including technical, economic and financial solvency, certifications, player protection and data security. They will also be required to operate a responsible gambling strategy, giving players the ability to self-exclude from operator sites.
Prospective sports betting operators will also be judged on the number of live events and bets being offered, as well as the diversity and number of sports being offered.
Licensed operators will be subject to a 25% tax rate on gross gaming revenues (GGR) generated from regulated activities. This figure has increased from the 15% originally put forward under legislation submitted in December.
Licensees will be obligated to conduct age verification of all players and likewise check that they are not self-excluded.
Operator advertising will be required to “promote dissemination of good gaming practices” and must not be targeted at individuals under the age of 18. To enforce this agenda, the regulator will monitor all outgoing advertising made by licensed operators and can issue fines against violators.
Regulatory infractions by operators are classified by three categories under the bill as light, serious or very serious.
The regulator can issue warnings and financial penalties and can also temporarily suspend licences for a period of 30 days, with the potential for permanent sanctions for very serious offences.