Online Gambling in Buenos Aires is About to get Regulated

The online casino gambling space of Buenos Aires in Argentina is about to get regulated. This was disclosed by IPLyC, the state-owned mobile casino gambling regulator in the area. They also disclosed the name of preferred bidders in digital betting and iGaming, which were 7 in total.

The seven companies joining forces to provide online gaming services in Buenos Aires came out on December 31.

Approval of Decree 181

In 2018, Buenos Aires lawmakers approved Decree 181 to legalize digital gaming. This enables enterprises to seek a license from the regulating authorities (IPLyC) and get approval to operate in a regulated environment.

This movement gained momentum for most of 2019, but came to a halt due to political unrest in August. This is because Buenos Aires is the biggest province in the country and has the largest population.

The move to regulate this territory started again around the latter part of 2020. Since then, there has been a significant amount of progress. IPLyC finally released a list of seven successful applicants who will have permission to operate in the locality after their licenses are approved.

Decree 181 empowers IPLyC with authority to give out a maximum amount of 7 licenses for online gambling. In addition, licensees must make a 5% return on their sales to get taxes.

Approved Applications

According to the IPC, they received 14 applications for licenses from foreign and local gambling companies, but only 7 of them got approval.

The first group of partners was William Hill and ArgenBingo; the second included bet 365 and Pasteko SA, and the third was Playtech and Hotel Casino Tandil. The fourth was 888/Boldt SA, the fifth was flitter/Atlántica de Juegos, the sixth was Intralot/Binbaires SA, and the seventh was Betsson/Casino de Victoria.

A few notable names who had applied but did not get approval include Luckia, BetChris, and LatAm.

A Little Bottle- Neck

The IPLyC is now ready to open the online gaming market in Buenos Aires since the laws governing their operation are in place. Those with approval need to pay approximately $773,000 before participating in the region's gambling activities.

Although the  IPLyC is working tirelessly to finalize the process, there have been rumors by news outlets in the locality that  Axel Kicillof, the Governor of Buenos Aires, is not in support of the move and may not approve it mainly due to the welfare fund aspect as entered by his predecessor.

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